Long-term bias: 1.329 is an interesting level for GBPUSD on the weekly. There had been multiple taps into this level and a huge reaction in terms of price from 1.329. Currently, GBPUSD is on an upward momentum. From the recent highs and recent lows on the daily, a Fib retracement suggests that the pair is bullish. If the pair closes above 1.317 on the daily. There is a good chance that GBPUSD will push up to 1.329 before going bearish again. Otherwise, expect a pull back down into forming new lower lows at 1.274
Short-term bias: I am looking forward to GBPUSD closing above 1.31260 in the 4H. Then, take the trade up into the 1.317 zone where I marked as the liquidity region right before the pair broke down previously. Before retesting in the liquidity region and taking GBPUSD higher.
Short-term bias: I am looking forward to GBPUSD closing above 1.31260 in the 4H. Then, take the trade up into the 1.317 zone where I marked as the liquidity region right before the pair broke down previously. Before retesting in the liquidity region and taking GBPUSD higher.