GBPUSD, supply zone was tested once, will it last a 2nd attempt?
We just had a flip of demand zone into a supply zone, it was quickly tested and rejected.
Price has broken out of a parallel channel and is currently breaking out of a descending trendline,
will that 1hr doji send us down? probably not but we'll see how.
I'm pretty bullish with the 0.786 fib level rejection and the rejection off the demand zone at 1.231
but that 1.242 to 1.240 demand turned supply zone will decide for us if we're bullish reversal or bearish continuation
Price has broken out of a parallel channel and is currently breaking out of a descending trendline,
will that 1hr doji send us down? probably not but we'll see how.
I'm pretty bullish with the 0.786 fib level rejection and the rejection off the demand zone at 1.231
but that 1.242 to 1.240 demand turned supply zone will decide for us if we're bullish reversal or bearish continuation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.