GBPUSD 4H RETRACEMENT PHASE TRDE
Updated
Price in an obvious down trend
Anticipating a retracement phase
NFP is the end of the week
Probability this price action will reverse because:
Price would move to a more neutral position before Friday
Price stretched far from ma's core center
Macd stretched far from zero line
Macd over sold
Possible Fractal Bullish breakout setup developing at current price action
Anticipating a retracement phase
NFP is the end of the week
Probability this price action will reverse because:
Price would move to a more neutral position before Friday
Price stretched far from ma's core center
Macd stretched far from zero line
Macd over sold
Possible Fractal Bullish breakout setup developing at current price action
Note
Market timing has not synced with price action for retracement setup yet.Reasons for retracement setup still valid
Remember NFP tomorrow
Note
Above chart is 1H setupThis chart is 4H setup
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