GBPUSD Analysis September 12, 2021
We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance, supply and demand zones, market structure, candlestick analysis etc.
On the weekly timeframe we can see the last week formed a dragon fly doji pattern which means their could be more upside movement in store for us. Price has been consolidating quite a bit near this level so we will see if we can push to the upside from here.
On the H4 timeframe we can clearly see that price is in an uptrend and on it’s way to make a potential high er low point. Once price sdoes find support we will look to go long. I am eyeing the 1.37800 area for reversal. We can bring on some technicals here including the fib. The main zone is the 61.8% area which lines up with previous resistance now turned support.
On the weekly timeframe we can see the last week formed a dragon fly doji pattern which means their could be more upside movement in store for us. Price has been consolidating quite a bit near this level so we will see if we can push to the upside from here.
On the H4 timeframe we can clearly see that price is in an uptrend and on it’s way to make a potential high er low point. Once price sdoes find support we will look to go long. I am eyeing the 1.37800 area for reversal. We can bring on some technicals here including the fib. The main zone is the 61.8% area which lines up with previous resistance now turned support.