GBP/USD Sell to Buy idea from 1.28400 down to 1.27600

7 ก.ค.

While GU buys are more favourable overall, as day traders, we will focus on nearby opportunities. This week, sells look promising at the 2-hour supply zone, where I expect a bearish reaction. This is a small move intended to trigger a retracement back down towards the 18-hour demand zone.

Once the 18-hour demand zone is mitigated, I will look to take buys. If price falls through this demand zone, the more ideal zones are the 9-hour or 8-hour demand. Overall, I am bullish as price is breaking structure to the upside, but a retracement is expected.

Confluences for GU Sells to Buys:

Price is very near a good 2-hour supply zone at the top of a structural point.

Imbalances below to target, as well as liquidity that needs to be taken.

Price has been very bullish and needs some correction.

Price is currently in a bullish trend, so sells to buys are favourable.

DXY is looking quite bearish as of now.

P.S. If price continues going up and breaks the 2-hour supply and structure once again, I will focus heavily on long opportunities.