In the previous analysis, I expected GU to have further bearish pressure below 1.3930 zone which was exactly what the market performed. In today's trading session, I will remain neutral bias. There are two setups that I am looking at
1. As GU has been on an uptrend with higher lows & highs sequence. There was also a tweezers pattern rejecting the 1.3950 support zone on Friday (26th Feb). If we notice further bullish momentum breaching above the 1.4040 minor resistance zone, that could send GU to re-test the 1.42 key daily resistance zone (Bullish)
2. If we notice further bearish pressure, that could expose the next minor support zone at 1.3850 zone, where it coincides with the 200ema.
The overall trend on the higher timeframe remains bullish. Stay reactive.
Trade safe.
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1. As GU has been on an uptrend with higher lows & highs sequence. There was also a tweezers pattern rejecting the 1.3950 support zone on Friday (26th Feb). If we notice further bullish momentum breaching above the 1.4040 minor resistance zone, that could send GU to re-test the 1.42 key daily resistance zone (Bullish)
2. If we notice further bearish pressure, that could expose the next minor support zone at 1.3850 zone, where it coincides with the 200ema.
The overall trend on the higher timeframe remains bullish. Stay reactive.
Trade safe.
Do follow my profile for daily fx forecast & educational content.