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GBPUSD Trading Analysis 09.02.2024

Posted on Feb 9th, 2024

by colibritrader

Dear traders,

Last time I shared with you my thoughts on DAX.

The price has been locked in a pretty tight range.

We’ve taken a few day trades in between, but nothing has shown great potential so far.

Currently, I am in a short trade, but this trade is not showing great signs of success.

It is only a 1:4 risk-to-reward ratio.

Here is a screenshot from our day trading room:

This is not financial advice!

Currently, I am in a risk-free trade and will let this run unit it exhausts its potential

GBPUSD Trading Analysis 09.02.2024

Today I am looking at the GBPUSD price.

There is a supply zone turned into a demand zone, which I find quite interesting.

This might be a potential bearish continuation point.

There is an inside-looking candlestick and it looks like the price might be trying to re-test the 1.2500 level.

Currently, I am waiting for the price to re-test the 1.2600 level and form a bearish candlestick pattern, which might give me an incentive to go short.

Currently, I am patiently waiting for the stars to align.

Happy trading,

Colibri Trader

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