GBPUSD Trade Idea

22 בדצמ׳ 2020

As per yesterday's (21th Dec) forecast, I expected GU perform some major pullback towards 1.3290 - 1.3170 before some continuation could happen, as the market was over-extended. Yesterday GU had a opening gap of 130+ pips (bearish), with a daily range of approximately 340 pips towards 1.31874 (daily low), followed with a strong bounce back to 1.35 (daily high), closing the daily candle as a bullish pin-bar above the 18ema, indicating indecision in the market. If price breaks through 1.35 resistance, will be having potential long setup towards 1.3615. However, today will be mainly focusing on range bound setup between 1.3170 - 1.35 as price failed to break through 1.3460 resistance yesterday.

Trade safe.