I want to see GPBUSD climb through resistance to test the previous high. We have a nice bounce at the 200 EMA with an anticipated cross of the 5, 13, and 50 EMAs. We could be pulling back to test the current lower high or to test 1.30500 area.
I'll be keeping those in mind as we continue forward. Lower timeframes show a downtrend break and we have strong momentum on the Daily, although it is slowing.
Working on the assumption that our previous trend was an Elliot Wave and that we have found the bottom of our retracement.
I'll be looking to trade between the zones. Ideas to come tomorrow morning as we get closer to NY session.
I'll be keeping those in mind as we continue forward. Lower timeframes show a downtrend break and we have strong momentum on the Daily, although it is slowing.
Working on the assumption that our previous trend was an Elliot Wave and that we have found the bottom of our retracement.
I'll be looking to trade between the zones. Ideas to come tomorrow morning as we get closer to NY session.
