Correction needed

GU bounced from S1 daily pivot point, the price level has also stretched to the outside of BB, a retracement should be expected, possibly during the Asia session.

Currently it's RSI oversold on 1H, 2H and 4H, so it stands a high chance for a correction.

Price going below 1.34735 invalidates the analysis.


Entry: 1.34881 or lower, above 1.34735

SL: a few pips below 1.34735

TP: fib based 0.382 retracement.

Expected pips: 20 - 60pips

Expected timeline: max 1 day


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Disclaimer:

Chart is static market is not. I learn from loss and mistakes like everyone. No financial advise is given here. Your money your own risk. :) And Good luck.