GBPUSD 30min Analysis January 22nd, 2021

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Price attempted to break above our supply zone of 1.3700 but ultimately failed.

Trade Scenario 1: Bearish - For us to go short we need to see price break below our key weekly level and the 30min 200MA. We will then wait for a retrace and strong rejection off the weekly around 1.3660. Enter on strong bearish setups.

Trade Scenario 2: Bullish - For us to go long we need to see price break above our supply zone of 1.3700. We will then wait for a retrace and for 1.3700 to flip as support. Enter on strong bullish setups.

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