FX.co ★ Mieke | GBP/USD

GBPUSD 4-Hour Analysis: If we can wait for a breakout of the level of 1.32433 and consolidation above, it will be a signal for growth. I now have a trade open in the range of 1.32183 for GBP/USD, and if there is an upward breakthrough, we will raise the rate. So far, we have been unable to move the price mark lower while trading at 1.32053. Growth begins there. A corrective dip has already happened, and after testing the trading range of 1.32000, growth may resume. A minor false breakthrough of 1.31830 is permitted; even after that, growth will continue. A breach of the level of 1.32433 and subsequent increases are conceivable. I intend to sell once these pullbacks are concluded. It is critical that these pullbacks do not exceed the 1.32087 level, as a breach of this level might suggest that sellers are losing strength and generate concern about future selling. Profit will be taken at the nearest support level of 1.31649. I intend to monitor market trends and, if feasible, respond in a timely way in accordance with the specified strategy. The corrective decrease might continue to the side and away from the pro-trading range, while the rise would persist. After a brief corrective dip below 1.31830, growth may resume. A breach of the 1.32463 level and consolidation above is probable, which would be a buy signal. The support level ranges from 1.32490 to 1.32485. A definitive breach of this level might result in a drop to the low. I agree. When you look at the four-hour period (H4) of the GBPUSD currency pair in its purest form, you can see a sideways cumulative movement (felet) with no clear advantage in one direction or the other. Borders were occasionally expanded. What perplexed me was the final sector of the price gap, H4 FVG 1.32187, in which the price traded with the body and settled lower. This pattern, according to the applied trading technique, indicates in favor of further decline. However, there is no considerable liquidity at the bottom until the first level of 1.31650. And this raises a dilemma for me, but the buildup does not happen by chance; there will undoubtedly be an impulsive removal of players. And this is certainly a preparation for non-farm. Thick liquidity runs along the top in the shape of a daily price gap (1.32510-1.32520), which should function as a barrier for a reversal in the downward structure. For me, the structure remains top-down. As a result, I expect growth to begin as a correction, followed by a southerly reversal. Ideally, I expect to see a green choice to end the issue. {"data-align":"none","data-size":"large","data-tempid":"temp_5247463_1791078187629_376"}