GBPUSD 30min Analysis December 22nd, 2020
Price is starting to create a flag pattern after our bullish push phase in yesterdays NY session.
Trade Scenario 1: Bullish - If we are took look long we still need to see price break above the 30min 200MA and current supply zone around 1.3470. We will then look for a retrace and for resistance to flip as support above 1.3470. Enter on bullish engulfing/variations
Trade Scenario 2: Bearish - If we are to look short we need to see strong bearish engulfing/variations on the 30min and 1hour timeframe to respect our current resistance trend line. Targeting our current demand zone at 1.3320
Trade Scenario 1: Bullish - If we are took look long we still need to see price break above the 30min 200MA and current supply zone around 1.3470. We will then look for a retrace and for resistance to flip as support above 1.3470. Enter on bullish engulfing/variations
Trade Scenario 2: Bearish - If we are to look short we need to see strong bearish engulfing/variations on the 30min and 1hour timeframe to respect our current resistance trend line. Targeting our current demand zone at 1.3320