GBP / USD Outlook for this week
The present market landscape is characterized by a prevailing bullish trend, indicative of a period where asset prices have been on an upward trajectory. This upward momentum signifies a collective optimism among market participants, as buying activity outpaces selling, propelling prices to higher levels. However, it’s important to recognize that even within an overarching bullish trend, the market is not devoid of intermittent adjustments. At this juncture, we find the market in the midst of a correction phase. A correction is a natural and healthy occurrence in financial markets, as it serves to recalibrate prices after a prolonged period of upward movement. During these phases, asset prices may exhibit a retracement, where they temporarily move in the opposite direction of the trend. This can be attributed to profit-taking by some investors, a reevaluation of market fundamentals, or the emergence of counteracting market forces.
The lower Time Frame shows the Key Levels
The hourly chart of this video, it shows some short-term demand zones. A comprehensive analysis of this specific time frame reveals the emergence of a significant phenomenon – the formation of a short-term demand zone.
How to utilize it in your strategy
The creation of a short-term demand zone on the one-hour chart holds notable implications. It signifies that within the microcosm of this time frame, traders are actively engaging with the market, identifying opportunities to buy at perceived advantageous price levels. This demand zone acts as a testament to market participants’ confidence in the asset’s value within this specific range. For traders, this insight could serve as a strategic point of reference. The short-term demand zone presents a potential entry point for those seeking to align their positions with the prevailing upward momentum. Additionally, it highlights a region where stop-loss orders might be placed to mitigate risk, as a breach below the demand zone could indicate a shift in market sentiment.
GBPUSD Weekly Trading Plan
At the part of the video, we show the clear entry zone and targets. We are anticipating the market will resume its bullish movement from one of those demand areas. Moreover, you can find exact entry-exit levels in your WhatsApp number and get 15 days of trial signals. One of the demand areas is expected to be the starting point for the market’s bullish movement. However, there is an intermediate bearish swing point. Price can react to this supply also. Please So, that our first target is this liquidity zone and the next target is this lower high point. Happy trading.
