GBPUSD rallied higher yesterday. While I was wrong in my direction, but as shared, look for shorts below PZ. GBPUSD broke above PZ is a signal to get out. And market gave a perfect re-test of PZ which was an opportunity to go long and it gave the rally to the above resistance.
Similar to EURUSD, GBPUSD is now at a strong resistance zone above. Make or break? For now, GBPUSD is held up well against the PZ.
IMO, I will not be interested to be long here (even if I am not short). Daily price action is bullish and does indicate further upside but I will not rule out the possibility of a pullback. As such GBPUSD can still retest 1.2751/58 resistance zone and sell down before finding support below before further up move. If I were to long, it would be from 1.2695/1.2703 for a move higher.
Similar to EURUSD, GBPUSD is now at a strong resistance zone above. Make or break? For now, GBPUSD is held up well against the PZ.
IMO, I will not be interested to be long here (even if I am not short). Daily price action is bullish and does indicate further upside but I will not rule out the possibility of a pullback. As such GBPUSD can still retest 1.2751/58 resistance zone and sell down before finding support below before further up move. If I were to long, it would be from 1.2695/1.2703 for a move higher.
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