Analysis of GBP/USD Pic 1
What I see is a potential structural change on higher time frames like the Daily (D) and Weekly (W). What I’m waiting for is for the price on the 4H chart to create 4 points that I’ve marked, to confirm that a trend reversal has occurred.
On the Daily chart, there has been a consolidation for 4 days.
On the 4H chart, I’ve marked what a break of market structure would look like. In that case, the price would form a Break of Structure (BOS), signaling a change in structure, and it would break out of the consolidation box. Point 3 would be just a reaction or a re-test inside the consolidation box, and in that case, a lower high would be formed, which gives us two confirmations that a structural change is likely.
On the Daily chart, we have 3 areas where the price could potentially pick up liquidity.
In addition, on Monday, there will be news all day for the EUR, followed by important USD news at 7:55 PM (Fed Chair Powell Speaks), which will impact the price. Also, throughout the entire next week, there will be significant news releases for both the EUR and USD.
The following two images are the Daily chart and the Weekly chart.
On the Daily chart, there has been a consolidation for 4 days.
On the 4H chart, I’ve marked what a break of market structure would look like. In that case, the price would form a Break of Structure (BOS), signaling a change in structure, and it would break out of the consolidation box. Point 3 would be just a reaction or a re-test inside the consolidation box, and in that case, a lower high would be formed, which gives us two confirmations that a structural change is likely.
On the Daily chart, we have 3 areas where the price could potentially pick up liquidity.
In addition, on Monday, there will be news all day for the EUR, followed by important USD news at 7:55 PM (Fed Chair Powell Speaks), which will impact the price. Also, throughout the entire next week, there will be significant news releases for both the EUR and USD.
The following two images are the Daily chart and the Weekly chart.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.