GBPUSD Analysis
We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can see that last week formed a bearish engulfing candle. This lines up exactly with the 61.8% level. We are expecting price to push down from this level back into the 1.32500 level.
On the h4 timeframe we are looking for a retest of the 1.35800 level before price pushes lower. We will look for entries around this area which is the previous support level that was broken.
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