GBP/USD BEARISH STRUCTURE
In the monthly timeframe, a bearish structure breakdown (BOS) has occurred. However, LPP has not yet been touched at a price of 1.42505.
In the daily timeframe, a bullish BOS has occurred, but LPP has not been touched yet at a price of 1.24870. Either a higher high needs to be made or LPP needs to be taken out daily because LPP attracts the price towards itself in the monthly timeframe.
In the hourly timeframe, a bearish CHoCH structure breakdown has occurred. LPP has also been hit as shown in the image. A bullish move has been able to do this, creating a supply zone.
At the bottom, a low sweep has also occurred. I expect a reaction from the supply zone with confirmation from the candle in the lower timeframe.
Note that the ceiling in the hourly and daily timeframe is very close to each other. So we can expect both of them to break and a sweep to occur.
In the daily timeframe, a bullish BOS has occurred, but LPP has not been touched yet at a price of 1.24870. Either a higher high needs to be made or LPP needs to be taken out daily because LPP attracts the price towards itself in the monthly timeframe.
In the hourly timeframe, a bearish CHoCH structure breakdown has occurred. LPP has also been hit as shown in the image. A bullish move has been able to do this, creating a supply zone.
At the bottom, a low sweep has also occurred. I expect a reaction from the supply zone with confirmation from the candle in the lower timeframe.
Note that the ceiling in the hourly and daily timeframe is very close to each other. So we can expect both of them to break and a sweep to occur.
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