News event for the day that could affect this trade:
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. (GBP) Gross Domestic Product
. (USD) Existing Home Sales

Technical Analysis:

GBPUSD Daily

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.

GBPUSD 4HR

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.

GBPUSD 1HR

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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