gpbusd breakdown analysis (short)
GPBUSD in higher frame have been bearish and kept on printing new lows at 1.3620 , 1.3377 and 1.3205 .
now if we go back to lower frames we can see a bullish run since 28th of January , price kept on printing new higher highs , higher lows until reaching a strong supply zone at 1.3610 and started to consolidate for the past two weeks .
so with the geopolitical issue between Russian and Ukraine and pound being risk currency against USD a safe haven currency and taking in account the bearish structure in higher frame , there is a good chance of price dropping from the supply zone at 1.3611 toward 1.3515 as a primary target .
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now if we go back to lower frames we can see a bullish run since 28th of January , price kept on printing new higher highs , higher lows until reaching a strong supply zone at 1.3610 and started to consolidate for the past two weeks .
so with the geopolitical issue between Russian and Ukraine and pound being risk currency against USD a safe haven currency and taking in account the bearish structure in higher frame , there is a good chance of price dropping from the supply zone at 1.3611 toward 1.3515 as a primary target .
If you like this pair breakdown and find educational and interesting please do press the like button and comment bellow for it would help the channel .
if you are new in this channel make sure to follow me so you don't miss any future breakdowns .
that said I wish you a safe trading
Kommentera:
like mentioned above in the analysis price did a drop of 50 pips from the supply zone
Kommentera:
Kommentera:
200 pips