GBPUSD - 16 February 2022

Previously, we expect price to continue bearish and even to take out the daily low. However, 4H is now showing a sweep to bothside (BSL & SSL) but yet to give a clean break to either side. We may see this as a sign of range or indecisive. 4H OF is still consider bearish but price swept the LQ from the left and immediately retrace (LW to downside). The large wick is a sign that price is unwilling to go down atm, there are buyers involved and holding this level.

It's best to stay neutral atm before price really showing the intention to continue lower or to go higher. As price has a chance to develop into a side movement, playing the edge is the safest way to get involve.