GBPUSD Inside Bar Price Action Setup | July 1st

Verified Profitable Trader

NOTE: I am back from 8 days at sea, and will now be posting regularly so make sure to check in daily for our usual market commentary.

GBPUSD – Forms Inside Bar Setup
Selling off for the last 8 of 11 days, the pound has formed a combo inverted pin bar + inside bar price action setup. Inverted pin bars are failed attempts to rally, and the price action today was largely within the middle section of the prior body. Intra-day price action suggests more downside, so I’ll look to sell on a rally towards 1.5365 which is both resistance and the daily 20ema.

A break below 1.5162 will setup a challenge of the big figure at 1.5000 where the key 3-mos lows are sitting, but I’m only look for shorts below 1.5525 as the price action isn’t showing a bottoming formation yet.

inside bar price action setup gbpusd

For those wanting to join the traders forum, lifetime membership & more, visit my Price Action Course page here.

Also make sure to check out my latest article 2 Tips for Summer Forex Trading

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article