After analyzing the current price of GU (currency pair), it appears that a potential selling opportunity is emerging. However, it is worth considering that the price might continue to rise throughout the day. Presently, the short position seems more favorable based on the unfolding market structure observed on the 30-minute and one-hour timeframes. The previous day's highest price has already been surpassed, indicating a possible short opportunity during the London session. At the moment, the market is relatively calm, and I have set a tight stop loss, as I still anticipate a bullish sentiment later in the day. Let's observe how the price evolves and always prioritize risk management.
Best regards,
Renaldo Philander
Best regards,
Renaldo Philander