Market Were Ranging for a while but now have broken structure on 4H/1H.
1:Bearish structure:(Short order).Market making LL/LH.
2:Market might retest levels of 1.33157 or 1.33350, then back to 1.31860.
3:Market resting the 200 MA.
4:Market will likely retest golden fibs levels.
5:Look for brearish strucutre on lower time frames for your entry, or what ever is your entry criteria.
6:Do look out for Fundamentals of both GBP and USD.
7:Volume indicator showing power to the bearish side and weakness to the pullback, also shoiwng strong sign of Short opportunity.
8:Risk 0.5% of your total account for long term survival.
Note:This is not a trading signal, the purpose of this analysis is for education only, trade at your own risk.
Do comment if you have any questions.
1:Bearish structure:(Short order).Market making LL/LH.
2:Market might retest levels of 1.33157 or 1.33350, then back to 1.31860.
3:Market resting the 200 MA.
4:Market will likely retest golden fibs levels.
5:Look for brearish strucutre on lower time frames for your entry, or what ever is your entry criteria.
6:Do look out for Fundamentals of both GBP and USD.
7:Volume indicator showing power to the bearish side and weakness to the pullback, also shoiwng strong sign of Short opportunity.
8:Risk 0.5% of your total account for long term survival.
Note:This is not a trading signal, the purpose of this analysis is for education only, trade at your own risk.
Do comment if you have any questions.