GBPUSD 30min Analysis February 11th, 2021
We saw mostly consolidation in yesterdays trading session and we are forming minor support around 1.3810.
Trade Scenario 1: Bullish - For us to go long we want to see price rebound off our minor support zone of 1.3810. We will look to enter on strong bullish setups off this zone. First targeting previous highs around 1.3860
Trade Scenario 2: Bearish - For us to go short we need to see price break below 1.3810 and below the 30m 200MA. We will then wait for a retrace and for 1.3810 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we want to see price rebound off our minor support zone of 1.3810. We will look to enter on strong bullish setups off this zone. First targeting previous highs around 1.3860
Trade Scenario 2: Bearish - For us to go short we need to see price break below 1.3810 and below the 30m 200MA. We will then wait for a retrace and for 1.3810 to flip as resistance.
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