GBPUSD 30min Analysis February 23rd, 2021
Price is currently consolidating in a box pattern and we are looking for a break and retest in either direction.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 1.4090. We will then wait for a quick retest and enter on bullish setups off 1.4090. First target will be 1.4130.
Trade Scenario 2: Bearish - For us to go short we want to see price break below 1.4060. We will then wait for a quick retest and for 1.4060 to act as resistance. We will enter on strong bearish setups off this level, first targeting 1.4030
Trade Scenario 1: Bullish - For us to go long we want to see price break above 1.4090. We will then wait for a quick retest and enter on bullish setups off 1.4090. First target will be 1.4130.
Trade Scenario 2: Bearish - For us to go short we want to see price break below 1.4060. We will then wait for a quick retest and for 1.4060 to act as resistance. We will enter on strong bearish setups off this level, first targeting 1.4030
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