In today’s update, I show how the GBPUSD is ready for a correction. Using our currency strength meter and active supply and demand, I show our expectations.
From the charts…
The Hawkeye Fatman, the leading currency strength meter, shows the GBP oversold and gaining strength, and the USD overbought and losing strength. This is a great combination that signals a potential correction long in the GBPUSD pair.
Price and volume have shown that the GBPUSD failed to create new lows, and that buying pressure has started off of the established demand zones.
The Hawkeye Perspective
We expect to see a correction to the long side on the GBPUSD, back up to 1.3030, or even 1.3050, based on our 60min charts. GBPUSD is Ready for a Correction.
We teach this and other strategies in our upcoming live seminar, called Project V-Swarm Live 2020. We have invited special guests to join us as well, and I’m super excited about what they will bring. Here is the link for more information.
Learn to trade the Hawkeye way.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.
GBPUSD has hit the upside target of 1.3030 and 1.3042 was the high to date (Jan 15th).