GBP/USD BUYS - 10.06.21

10. Juni 2021

Price is at the bottom end of the range, looking for EU/pre London session to take a quick dip to create support and take a buy to the next levels above... Will also consider sells as a breakout of the range trade if anymore negative brexit news comes out.

10. Juni 2021

Anmerkung

Took a long entry at 1.41134 after the price rejected going below 1.4100 level, on the lower timeframes I saw strong bullish candles which to me implies that big buying power wanted to maintain the price above that level..

After that, the price is at the moment consolidating, UK open in 10 mins.. would be good to see the volume drive the price to target 2..

Will consider getting out of the trade if it falls below 1.41080

10. Juni 2021

Anmerkung

Well the Uk open sure did bring volume, too bad it stopped me out... took another re-entry at 1.41070 for a long...

10. Juni 2021

Anmerkung

Didn't work out at all, the Brexit negative news had heavy impact

10. Juni 2021

Anmerkung

analysis turned out to be right, shame my execution was off today and didn't manage to take full advantage of the news....

Should of kept in mind that with the recent inflation, CPI numbers were most likely to be bad... and the price was near the bottom of the range making it a great place to take an entry to push it to mid/resistance of the range..