USDCHF Analysis (23rd May 2024)

GBPUSD Analysis

On the 1 hour timeframe, price has rejected strongly off the 1.23000 Psychological key level.

Given that the Higher timeframe is still primarily bearish, I am expecting price to retrace to wards the 1 hour Bearish Orderblock before providing a 5/15 minute Change of Character to give us potential Sell opportunities.

However, if price decides to break above the 1 hour Bearish Orderblock, then more than likely price will look to continue to move higher retrace further into a higher orderblock at 1.24430.