Hello traders, have a similar bias on GBPUSD? This week we've seen quite sell on GBPUSD which even took out the PWL (Previous Week Low) but does that mean we are currently bearish? Of course NO.
GBPUSD is still very much Bullish according to Higher Timeframe narrative. We are currently in Premium so begin preparing for more BUYS immediately price sells to Discount.
Externally, we've established we're still bullish so we expect Internal Structure to work in line with that. Internally, we see price has taken out IRL (Internal Range Liquidity) meaning it's likely to buy massively from the 4h Imbalance marked out or from the Order block (which is my preferred entry.
Targets: Price will most certainly head towards the previous week high to clear it and give us another BOS (Break of Structure) which will indicate the continuation of the Bullish trend.
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GBPUSD is still very much Bullish according to Higher Timeframe narrative. We are currently in Premium so begin preparing for more BUYS immediately price sells to Discount.
Externally, we've established we're still bullish so we expect Internal Structure to work in line with that. Internally, we see price has taken out IRL (Internal Range Liquidity) meaning it's likely to buy massively from the 4h Imbalance marked out or from the Order block (which is my preferred entry.
Targets: Price will most certainly head towards the previous week high to clear it and give us another BOS (Break of Structure) which will indicate the continuation of the Bullish trend.
If this post was useful to you, please do not forget to like and comment❤️.