FX.co ★ bridget.franecki | TST as the Foundation for Medium-term Trading

GBPUSD Today the pound returned level-to-level to last Friday. And just like on Friday and like yesterday, today we opened in the lower half of the value area. But we still need to see what and where – because in the absence of a supply zone it’s not so easy to determine the daily direction. It would be nice if today somehow repeated yesterday. That is, during the European session the price could reach the bottom of the value area and then go up, even above the balance. I think everything will depend on how the price behaves at the lower boundary. If it breaks through and goes to the trendline, then it won’t rise above the balance today. If it stops at the lower boundary, then there is a chance to move above the balance and go higher. But the fact that the northern (upward) direction is more likely than a drop.