We have identified an OB at 151.887 area on the 4h TF. Previously, we can see that price has been nicely rejected at the 153.328 value multiple times with the push to the downside following the new release on the GBP PMI where actual vs. forecast was lower than anticipated. Now, we see a break of that previous resistance area, area of sensitivity followed by multiple retest of that break with major pin bar rejection. What I would like to see is price clearing the liquidity void left by the bullish momentum, tap our .79% fib lvl, and continue to the upside to make a HH.
In the event price fails to tap us in at the fib lvl, this trade is invalid.
In the event price fails to tap us in at the fib lvl, this trade is invalid.