GBPUSD: What Should We Expect from Today's CPI Release?

2024年6月12日

Greetings Traders!

What to Expect in Today's CPI Release

At the moment, GBPUSD is showing a relationship with bullish order blocks. We observe that after buy stops (external range liquidity) have been taken, the market moves into bullish order blocks (internal range liquidity), and these order blocks are consistently supporting the price. This indicates that the current price action is being driven by bullish institutional order flow, which may continue further today.

Key Observations:

Bullish Momentum:

• Order Blocks Support: Price is supported by bullish order blocks, indicating strong bullish momentum.
  
• Targeting Buy Stops: The main liquidity draw is towards the buy stops at the high. There is minimal resistance in this direction due to the heavy downward moves during Friday's NFP release.
  

Potential Bearish Shift:

• Market Shift: If there is a market shift towards the downside, or if the order flow from the bullish order blocks is broken, we may see a downward draw towards the sell stops.
  
• Cautious Approach: While the current bias is towards bullishness, any invalidation of this bias will lead to a reassessment of trading opportunities.
  

Trading Strategy:

• Primary Focus: Anticipating upward movement towards buy stops based on current bullish order flow.
  
• Secondary Consideration: Monitoring for any signs of a bearish market shift and avoiding sell-side trades if the bullish bias is invalidated.
  

Please conduct further analysis on your own to complement this overview and to make well-informed trading decisions.

Kind Regards,
The_Architect

2024年6月12日

註釋

TP Hit=4%
Comment: The order block held as a firm support, to push for the bullish narrative. The CPI release worked cohesively with this idea.

Refer:

Best Regards,
The_Architect