GBP/USD
Price fell according to our analysis yesterday meeting the target at 5949 and beyond. Price failed to break the A low though and gave us a bullish cs formation. We are still in that trade and will add to that position on dips towards the BF786 where the limit is since it’s an A low bounce.
FOR TODAY:
Price gave us a test of the bounce during asia, we are looking for another test during the UK session and a bullish cs formation after that. We are looking to buy dips towards the BF786 up at 6106.
Else if price falls and takes out the A low then we will be reversing on this pair.
SHORT: Will be going short only IF:
We get to the BF786 up at 6106 and get a bearish cs formation. This will qualify as a ST down to the A low since we would have had an A low prior bounce.
LONG: Will be going long today only IF:
We get a test of the support created in Asia and a bullish sc formation, trade this as a ST up to the BF786.
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