GU - Weekly Timeframe Analysis (ICT)
Considering my bullish bias on the DXY, and the currently bearish price action on GBPUSD, I am anticipating price continuing lower with a short-term objective of a Weekly Wick's Consequent Encroachment.
Price bottomed off a Weekly Bisi to the tee, and closed above a NWOG at big figure 1.2200, leaving a Weekly Sibi in it's wake.
There are 2 areas I am currently looking at for a retracement for a potential continuation to the downside. With price being at an opposing HTF PD Array, I am keen to see how much time it spends consolidating, if at all.
1. The closest Weekly Sibi nested with a Wick of Monthly Bearish Breaker Block (Wick).
2. A Weekly Sibi further up nested with the body of a Monthly Bullish Breaker Block.
- R2F
Price bottomed off a Weekly Bisi to the tee, and closed above a NWOG at big figure 1.2200, leaving a Weekly Sibi in it's wake.
There are 2 areas I am currently looking at for a retracement for a potential continuation to the downside. With price being at an opposing HTF PD Array, I am keen to see how much time it spends consolidating, if at all.
1. The closest Weekly Sibi nested with a Wick of Monthly Bearish Breaker Block (Wick).
2. A Weekly Sibi further up nested with the body of a Monthly Bullish Breaker Block.
- R2F
R2F
