GBP/USD Analysis - Simple Supply & Demand
Looking at GBP/USD on the 4H timeframe, it's evident that its been producing bearish structure since Feb.
I have drawn out both a Supply and Demand zone on my chart as I believe now price has tapped into supply we will now see the next impulse down.
I would like to see price come down to the previous level of demand, but before then and before I place a short position on this pair i'll need more confirmation.
This will include a break below the neckline drawn out in yellow, once that's happened I'll look for confirmation of a continuation in the bearish impulse down.
This will be done by looking at the charts through lower timeframes and waiting for confirmation via candlestick patterns.
I have drawn out both a Supply and Demand zone on my chart as I believe now price has tapped into supply we will now see the next impulse down.
I would like to see price come down to the previous level of demand, but before then and before I place a short position on this pair i'll need more confirmation.
This will include a break below the neckline drawn out in yellow, once that's happened I'll look for confirmation of a continuation in the bearish impulse down.
This will be done by looking at the charts through lower timeframes and waiting for confirmation via candlestick patterns.
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.