GBPUSD 1hour Analysis January 7th, 2021
Price is currently consolidating around the 1hour 200MA.
Trade Scenario 1: Bullish - For us to look long we need to see price break above our key structure zone of 1.3620. We will then wait for a retrace and for 1.3620 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to look short we want to see price push to the downside below our key zone of 1.3530. We will then wait for a retrace and for 1.3530 zone to flip as resistance
Trade Scenario 1: Bullish - For us to look long we need to see price break above our key structure zone of 1.3620. We will then wait for a retrace and for 1.3620 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to look short we want to see price push to the downside below our key zone of 1.3530. We will then wait for a retrace and for 1.3530 zone to flip as resistance