GBPUSD (W) is approaching some very potent bearish orderblocks
GBPUSD is nearing some very potent bearish order blocks on the weekly chart, which can cause price to bounce back (at least temporarily).
Also, the price delivery while going up is very clean and has no apparent open bullish order block. So if it falls, there's nothing to support it.
Also, DXY and EURUSD are at their support & resistance (respectively). So this all seems in sync.
Please keep in mind, these are weekly zones - not to be used directly for trading. Instead, use them to keep a watch on price on your smaller timeframes.
Expected direction : Up (till it reaches bearish order blocks) and then Down
Also, the price delivery while going up is very clean and has no apparent open bullish order block. So if it falls, there's nothing to support it.
Also, DXY and EURUSD are at their support & resistance (respectively). So this all seems in sync.
Please keep in mind, these are weekly zones - not to be used directly for trading. Instead, use them to keep a watch on price on your smaller timeframes.
Expected direction : Up (till it reaches bearish order blocks) and then Down
