GBPUSD still looks bullish

12 ביולי 2020

Price has not yet broken out of it's daily uptrend structure with our 50 SMA sitting below the 8 SMA we will be looking for buys. Confluence on lower times frames with H4 and H1 being in align with overall direction indicating a lot of bullish pressure at the moment. Price could pull back to recently broken resistance to test as support, with our fib golden zone being the interest point for us to take a long position if price action starts showing signs of rejection. I will place stop just below our zones and will target the previous high.