Weekly Price Action Setups & Trade Ideas | Dec 9 - Dec 14

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Chris Capre’s current price action and ichimoku trades: EURUSD, GBPUSD, USDMXN, BIR, TLS

GBPUSD – Pre-Breakout Structure @ Key Support (Daily chart)

Price Action Context

Trading within a well-defined corrective structure preceded by strong selling from 1.43 and recently, a PBO structure has started to form towards the support.

rending Analysis

LT bias bearish since the break below 1.36 and bears interested can look for potential continuation trade opportunities on a pullback towards the top of the structure or break below the key support zone, with the second scenario looking more likely to manifest atm due to the PBO structure that is forming towards the support.

Key Support & Resistance Zones

R: 1.3240 – 1.3370
S: 1.2660 – 1.2725

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