The end of the year has come. It has been an year full of ups and downs, but one thing did not change and this is my strict risk management system.
Last time I shared with you an analysis on GPBUSD.
I was looking for the price to reverse from the supply zone.
What happened was that the price re-tested this zone one more time before changing course.
Currently the price is down roughly 100 pips, which is more or less in the range of where it was on the 7th of December (the time of writing the previous trading analysis).
Let’s dig deeper into where it might go next.
GBPUSD Trading Analysis 31.12.2022
Today, I am looking at the GBPUSD again.
The price is located just below the supply zone that I’ve spotted in the beginning of December.
The daily chart is showing an inside day candlestick formation.
The way it has formed on the daily suggests that we might see more bearish behaviour.
I will be closely looking in the beginning of next week how the price will open.
Since it will be the first trading year of the new year, I will be extremely cautious.
There is a possibility for a bearish confirmation from the 4H chart.
If that happens, I will be more prone to short that pair.
Until (and if) that happens, I will patiently waiting and also celebrating the past 2022 already.
Happy trading and Happy New Year!