Outlook for GBP/USD 24th - 28th December
Having a look at where price is currently.
Price has been finding selling pressure at the zone in the middle at the 1.2700 level. The first 2 touches of this price has shown that there are a lot more selling, further to this on the 3rd attempt at this zone, price found pressure a few pips lower.
Between 1.2700 and 1.2600 price has started o move sideways with no real push, this could be due to the Christmas period and the markets slowing down in general.
Having a look at the Fresh Zones where we would see the best risk / reward there are 2.
The lowest zone hasn't seen price since April 2017, if price pushes through the lower timeframe structures this would offer the best area to buy from imo.
If price were to find this level at 1.24300's then on the higher levels we have a larger range of around 500 pips.
Price has been finding selling pressure at the zone in the middle at the 1.2700 level. The first 2 touches of this price has shown that there are a lot more selling, further to this on the 3rd attempt at this zone, price found pressure a few pips lower.
Between 1.2700 and 1.2600 price has started o move sideways with no real push, this could be due to the Christmas period and the markets slowing down in general.
Having a look at the Fresh Zones where we would see the best risk / reward there are 2.
The lowest zone hasn't seen price since April 2017, if price pushes through the lower timeframe structures this would offer the best area to buy from imo.
If price were to find this level at 1.24300's then on the higher levels we have a larger range of around 500 pips.
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