GBP/USD: Wargaming the Remainder of February.

14 בפבר׳ 2021

Ah, GBP...she's enough to make a grown man cry sometimes. We just witnessed the market make a massive breakout bull run against the USD, with not a single significant pullback. Shall the insanity continue into March? Or shall we see GBP cool her heels a little bit in the massive liquidity pools that have been building below for ages now? In this analysis I use the Gann Fan to assist with projecting price into time. The market seems to want to do everything it can to keep GU from making any type of significant retracement on the higher time frames. These fans were somewhat difficult to pull handles for, as price action has been extremely one sided for quite some time now. Time for a rest, perhaps? Let's find out...

What do you think? Let me know in the comments which scenario you think is more likely and why!