Looking for long term shorts and near term longs for GBP/USD.

10 Sep 2022

Since price is overall trending bearish and has been for a while I am not going to change my overall view on GBP/USD I am going to remain bearish for the long term. Since price has had a really impulsive drop for the last 37 days I am anticipating a pull back of some sort next week. Price has had a 4 hour change of character so this could be an indication that price wants to have that pull back so I would not be surprised if we see some bullish structure being created in the near future. I have marked out some bullish POI's where we could possibly looking for short term longs into the higher time frame bearish POI's. I have also marked out some long term bearish POI's where price could also react from. All of the bearish POI's are in the premium area, to find the premium area I used a fib from the most recent weekly LH that was responsible for creating the weekly bearish break of structure. Keeping in mind that there is USA inflation news out on Tuesday at 13:30 and GBP inflation news out on Wednesday at 07:00 we could see some choppy price action until the data comes out but I will still keep this view. Trading is a probability game so nothing is for certain, this is just my personal view of what could potentiality happen.

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10 Sep 2022

Nota

These are the short term bullish POI's where we could possibly see price react from.

13 Sep 2022

Nota

As anticipated price has been in a range for the past 22 hours, we did see a little push up yesterday morning but overall price just ranged for the whole day, we have also seen a little push up this morning to a new 15min bearish POI that I did not see before. I will wait and see how price reacts from this area of interest.