GBPUSD Analysis – Price Leaves The Premium Zone
GBPUSD is set to crash as the price leaves the premium zone. According to the Stochastic Oscillator, the market has been extremely bullish. The price is currently heading downward as it retraces into the discount zone.
GBPUSD Significant Zones
Demand Zones: 1.7090, 1.06860
Supply Zones: 1.24470, 1.26670
Following the upward expansion that led GBPUSD above 1.17090, the market has remained in an extremely overbought region. As of now, the 1.17090 price level has yet to be broken to the downside. This is due to the consistent control of the market by the bulls. As the price rallied to break the previous resistance of 1.17090 to the upside, a sell-side inefficiency was created. The sell-side inefficiency was in the form of a Fair Value Gap (FVG). This FVG is anticipated to be filled sometime in the future when the price crashes into the discount zone. The uptrend continued until the 1.24470 resistance was hit.
A downward correction was made, such that the swing low created was at the 1.18410 price level. Another expansion to the upside was made, but only to form a double top with the previous high of 1.22470. Owing to the selling pressure from the 1.22470 resistance, the 1.18410 swing low was breached. Notably, this breach also happened after the formation of the double top. Currently, the trading range of the market lies between the 1.25470 and the 18020 price levels. GBPUSD is heading into the bullish order block in the discount zone.
Market Expectation
Following the buy-side liquidity (BSL) grab on the four-hour chart, GBPUSD swerved to the downside. This downtrend is likely going to continue until the previous low of 1.23530 is breached.
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.