In yesterday's forecast, i expected GU to pullback towards 1.3550 support zone for the potential third rejection, which was exactly what the market performed. Currently, GU is a typical exhaustion pattern, will be looking for short-term long opportunities ONLY if price clearly violates the pivot trendline, rotates back towards the upside showing us buyers' strength with 1.3620 & 1.37 daily highs as targets. However, If we again see further weakness in GU breaching 1.3540 support zone, we could have a potential short-term selling opportunities with a break & re-test setup towards 1.3479 key level. As long as 1.3540 support zone holds, remain bullish bias to respect the higher timeframe structure.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast & educational content.
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