GBPUSD 30min Analysis February 1st, 2021

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Price has rejected off our structure zone of 1.3740 once again but is finding support at our 30min 200MA.

Trade Scenario 1: Bullish - For us to go long we need to see price break above our zone of 1.3740. We will then wait for a retrace and for price to find support at or above 1.3740. Enter on strong bullish setups.

Trade Scenario 2: Bearish - For us to go short we need to se price break below our 200MA. We will then wait for a retest for price to find resistance at our around 1.3700. Enter on strong bearish setups, first targeting our support zone of 1.3670

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