Last week, the GBP/USD experienced a strong bullish movement, resulting in a significant high and positive momentum in the market. However, a bearish pullback has since occurred, indicating a temporary pause in the market. This is a common occurrence in forex trading and allows traders to reassess their positions and potentially enter new positions at more favorable levels.
As we evaluate this week’s GBPUSD market conditions, we have identified two demand zones as potential targets for upcoming price movements. These demand zones represent areas where buyers could step in, leading to potential price reversals or extended bullish moves. It’s important for traders to be cautious during this pullback phase and keep a close eye on the immediate support and resistance levels.
If the price action indicates strong bullish momentum near the demand zones, it could present a buying opportunity. We show in this video the target so that you can take the decision on a price-action basis. We shall update the signal in the premium member area accordingly. Join our premium forex signals free for 15 days. However, proper risk management and a clear exit plan are essential for any trading strategy. It’s important to note that forex trading involves inherent risks and market movements can be unpredictable.
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This analysis is for informational purposes only and should not be considered financial advice. Always conduct your analysis and consult with a professional financial advisor before making any trading decisions.