GBPUSD: Can Buyers Hold? ðĨ
Last Night Update:
I expect a breakthrough of this supply.
More touches are making it weaker, no pressure from sellers means a lack of order size.
All previous imbalance has been filled to the left and all high volume levels have been met, there is no real reason for price to return bearish.
However, if price breaches the most recent demand I will have some concerns for buying.
But until then, I see buys buys buys, just position yourself correctly.
Morning Update:
Price did get delivered to our demand but in a slow fashion.
Sellers are dominating this demand and since we have not seen a true liquidity grab I expect price to dip slightly lower before we find out buy entry.
I expect a breakthrough of this supply.
More touches are making it weaker, no pressure from sellers means a lack of order size.
All previous imbalance has been filled to the left and all high volume levels have been met, there is no real reason for price to return bearish.
However, if price breaches the most recent demand I will have some concerns for buying.
But until then, I see buys buys buys, just position yourself correctly.
Morning Update:
Price did get delivered to our demand but in a slow fashion.
Sellers are dominating this demand and since we have not seen a true liquidity grab I expect price to dip slightly lower before we find out buy entry.
