GU - Weekly Timeframe Analysis (ICT)

١ أكتوبر ٢٠٢٣

Considering my bullish bias on the DXY, and the currently bearish price action on GBPUSD, I am anticipating price continuing lower with a short-term objective of a Weekly Wick's Consequent Encroachment.

Price bottomed off a Weekly Bisi to the tee, and closed above a NWOG at big figure 1.2200, leaving a Weekly Sibi in it's wake.

There are 2 areas I am currently looking at for a retracement for a potential continuation to the downside. With price being at an opposing HTF PD Array, I am keen to see how much time it spends consolidating, if at all.

1. The closest Weekly Sibi nested with a Wick of Monthly Bearish Breaker Block (Wick).

2. A Weekly Sibi further up nested with the body of a Monthly Bullish Breaker Block.

- R2F