GBP/USD Sell to Buy idea from 1.28400 down to 1.27600
While GU buys are more favourable overall, as day traders, we will focus on nearby opportunities. This week, sells look promising at the 2-hour supply zone, where I expect a bearish reaction. This is a small move intended to trigger a retracement back down towards the 18-hour demand zone.
Once the 18-hour demand zone is mitigated, I will look to take buys. If price falls through this demand zone, the more ideal zones are the 9-hour or 8-hour demand. Overall, I am bullish as price is breaking structure to the upside, but a retracement is expected.
Confluences for GU Sells to Buys:
Price is very near a good 2-hour supply zone at the top of a structural point.
Imbalances below to target, as well as liquidity that needs to be taken.
Price has been very bullish and needs some correction.
Price is currently in a bullish trend, so sells to buys are favourable.
DXY is looking quite bearish as of now.
P.S. If price continues going up and breaks the 2-hour supply and structure once again, I will focus heavily on long opportunities.
Once the 18-hour demand zone is mitigated, I will look to take buys. If price falls through this demand zone, the more ideal zones are the 9-hour or 8-hour demand. Overall, I am bullish as price is breaking structure to the upside, but a retracement is expected.
Confluences for GU Sells to Buys:
Price is very near a good 2-hour supply zone at the top of a structural point.
Imbalances below to target, as well as liquidity that needs to be taken.
Price has been very bullish and needs some correction.
Price is currently in a bullish trend, so sells to buys are favourable.
DXY is looking quite bearish as of now.
P.S. If price continues going up and breaks the 2-hour supply and structure once again, I will focus heavily on long opportunities.
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