GBPUSD: Actively recovering again, Target 1.2700?
Hello everyone, let's discuss and strategize the day with me!
EURUSD closed touching 1.2599, it is generally testing the main support zone around 1.2600, after falsely breaking the 1.2690 support zone. The 1.2600 area is playing an important role before continuing to increase or correct.
A candle with a sufficiently long shadow is forming on 4H at 1.2575, indicating active buying pressure in the market, which actively restrains price decline. This setup, shows that the possibility of achieving important goals is still ahead. In this scenario, the pair could extend the correction towards 1.2670-1.2680 (61.8% Fibonacci retracement of the latest uptrend, and touch the 34.89 EMA). A break above this level would see GBPUSD once again test 1.2800, but the likelihood of this nice buying occurring in my opinion is 70%.
And you, what is your strategy?
EURUSD closed touching 1.2599, it is generally testing the main support zone around 1.2600, after falsely breaking the 1.2690 support zone. The 1.2600 area is playing an important role before continuing to increase or correct.
A candle with a sufficiently long shadow is forming on 4H at 1.2575, indicating active buying pressure in the market, which actively restrains price decline. This setup, shows that the possibility of achieving important goals is still ahead. In this scenario, the pair could extend the correction towards 1.2670-1.2680 (61.8% Fibonacci retracement of the latest uptrend, and touch the 34.89 EMA). A break above this level would see GBPUSD once again test 1.2800, but the likelihood of this nice buying occurring in my opinion is 70%.
And you, what is your strategy?
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