GBPUSD Post-Payrolls Weeks Since October

11 mar

In October, Payroll candle range is wide. Price fills Fair Value Gap created post-NFP and moves Higher towards the level of high institutional resistance placed in on 26-09-2023. From there, it gaps and almost revisits the bottom within the same week.



November: The price continues higher on Monday but fully retraces the range before the end of the week.



December, the price goes sideways until another FED/FOMC news on Thursday. With accumulated longs, the price stays up there for more than a week, until it returns to clear the bottom (outside the picture).



January: price stays above for the whole week and returns to clear the candle's low on Tuesday/Wednesday of the week after that.



February: price stays below for the next week, continues accumulating for three more weeks but eventually goes higher as per my last analysis where I identified three consecutive inside candles.



Right now, we are on the way to fully clear the bottom. I think we will go beyond that and also clear the Friday's low or even Daily FVG below that (purple). From there, the price can go higher,
but after this recent growth, I wouldn't expect the trend to be resumed without clearing some liquidity levels - Friday low at least, FVG below that preferably.

After that, there aren't any obvious price targets for the retracement, so unless the uptrend stops here, it won't go lower than the FVG.