News event for the day that could affect this trade:

. (GBP) Gross Domestic Product
. (USD) Existing Home Sales

Technical Analysis:


GBPUSD bears had been trying for the whole month, but fail to breach or close below MPP. I'd go into smaller TF and look for buying opportunities.


Price made a double bottom at WM2 - bulls buy zone for the week. In short term, I'd expect price to rally higher into WM4 before the end of the week.


If u haven't bought this pair, chasing current price movement might not be a good idea. I'd wait for price to retrace back to hourly role reversal area to go long again on this pair

One thought on “GBPUSD Daily Buy Setup – 22nd Feb 2017”

  1. Santo Rusli says:

    Last high was on 4h bb top though, so let see

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