Anybody in for a reversal with me?
Well, starting with the downtrend structure we had from the 1.34xx seems broken. Apparently, our beloved cable had to take all those early bulls out before it could go back reclaiming money it left at supply.
There are multiple evidences why I think we should be buying GBPUSD. Amongst the most prominent ones, we have:
1- Price being protected (twice) at the demand area
2- BOE held the rates, it does not mean UK is doing great at other variables such as inflation, trade balance, debt, job market etc., it just means they plan to maintain the burden on businesses and public with relatively higher mark ups on public lending. It might be a double edged sword but that is pretty much how capitalist economies maintain and control their inflation rates.
3- Market has not claimed the liquidity at marked supply area ever since it started dropping, so this might be a good start
4- This one might not have matured just yet, but it is diverging bullish here
This is my idea for adding small long positions starting Monday post intraday pullback, if you think I might be wrong, please let me know in the comments with proper reasoning. (saying because I need a reason to reconsider which I might be unable to see lol)
Cheers!
There are multiple evidences why I think we should be buying GBPUSD. Amongst the most prominent ones, we have:
1- Price being protected (twice) at the demand area
2- BOE held the rates, it does not mean UK is doing great at other variables such as inflation, trade balance, debt, job market etc., it just means they plan to maintain the burden on businesses and public with relatively higher mark ups on public lending. It might be a double edged sword but that is pretty much how capitalist economies maintain and control their inflation rates.
3- Market has not claimed the liquidity at marked supply area ever since it started dropping, so this might be a good start
4- This one might not have matured just yet, but it is diverging bullish here
This is my idea for adding small long positions starting Monday post intraday pullback, if you think I might be wrong, please let me know in the comments with proper reasoning. (saying because I need a reason to reconsider which I might be unable to see lol)
Cheers!
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