MORE DETAILED LOOK ON GBP/USD
GBP/USD 4H - This as you can see is a more detailed look on the current structure of the market and where price is at, as you can see price currently leaving the area of Demand.
We are seeing price take a hike to the upside, now if we were to look for all pieces of confluence before getting involved we would want a higher timeframe structure break, that would come from the BOS marked out above.
That is the last protected High within the bearish structure that traded price down and into the Demand Zone below, so a break in that would confirm an end to the move lower and the start of a correction, trading us up and into the Supply Zone above.
I have gone ahead and marked out two smaller areas of interest, I feel these will have an influence on current price action. I have marked out a path on how I feel price will play out over the course of the next few days.
We are seeing price take a hike to the upside, now if we were to look for all pieces of confluence before getting involved we would want a higher timeframe structure break, that would come from the BOS marked out above.
That is the last protected High within the bearish structure that traded price down and into the Demand Zone below, so a break in that would confirm an end to the move lower and the start of a correction, trading us up and into the Supply Zone above.
I have gone ahead and marked out two smaller areas of interest, I feel these will have an influence on current price action. I have marked out a path on how I feel price will play out over the course of the next few days.
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