GBPUSD is on a downtrend, creating lower highs and lower lows in most timeframes. We currently had a clean redistribution happening intraday and we are currently seeing a rejection of a strong area of confluences after some liquidity was induced from previous highs. It is very likely that we will retest previous lows and maybe even create a new lower low intraday.
The risk here is that our 4H trend is very overextended and there are some areas of liquidity that need to be fulfilled above at the .618 fib. for this reason, Management will need to be more aggressive in this case to minimise the risk of loss.
The risk here is that our 4H trend is very overextended and there are some areas of liquidity that need to be fulfilled above at the .618 fib. for this reason, Management will need to be more aggressive in this case to minimise the risk of loss.