GBPUSD 1hour Analysis December 28th, 2020
We are starting to see a double top form on the 4h timeframe but price is at a key structure zone.
Trade Scenario 1: Bullish - For us to look long we need to see strong support form at 1.348. We will then look for a break and retest of our monthly zone at 1.3527. Enter on bullish engulfing/variations.
Trade Scenario 2: Bearish - For us to look short we need to see price break below the 1h 200MA and the key structure zone of 1.3470. We will then wait for a retrace and a clear LH to form. Enter on further bearish engulfing/variations.
Trade Scenario 1: Bullish - For us to look long we need to see strong support form at 1.348. We will then look for a break and retest of our monthly zone at 1.3527. Enter on bullish engulfing/variations.
Trade Scenario 2: Bearish - For us to look short we need to see price break below the 1h 200MA and the key structure zone of 1.3470. We will then wait for a retrace and a clear LH to form. Enter on further bearish engulfing/variations.
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