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GBP/USD is currently consolidating around Equilibrium and without any close above, there is no reason for an expansion. Yesterday´s low and reaction to my bullish OB signals strength. Therefore I am looking for a long position at EQ of that OB while taking out yesterday´s low.
Three different scenarios
1. We see GBP/USD closing a 12hr candle above Equilibrium. This would lead to an expansion. -> Less likely
2. Our Limit-orders get filled>retest of 1.29770>take out lows until 1.29000>pump --> Medium probability
3. Our Limit-orders get filled and GBP/USD respects EQ of my bullish OB. --> Likely>High probability
Therefore you can decide yourself which setup fits best for you.
GBP/USD is currently consolidating around Equilibrium and without any close above, there is no reason for an expansion. Yesterday´s low and reaction to my bullish OB signals strength. Therefore I am looking for a long position at EQ of that OB while taking out yesterday´s low.
Three different scenarios
1. We see GBP/USD closing a 12hr candle above Equilibrium. This would lead to an expansion. -> Less likely
2. Our Limit-orders get filled>retest of 1.29770>take out lows until 1.29000>pump --> Medium probability
3. Our Limit-orders get filled and GBP/USD respects EQ of my bullish OB. --> Likely>High probability
Therefore you can decide yourself which setup fits best for you.