GBP/USD analysis

١١ فبراير

GBP/USD has broken daily extreme low due to a weekly order block therefore we can say that it is in a down trend. It has been in a consolidation period since half way through December and has finally broken out the range taking liquidity to the downside. In doing so it has left a 4H order block and a huge imbalance on the 1H timeframe. It can either go up to the order block where I would be considering sells, or it could partially fill the imbalance and then start to sell. In the meantime I will be taking buy trades on the 15m and 5m chart until it reaches the premium area of the imbalance. I hope you guys will find this helpful.