- May 5, 2026
- Posted by: EWGFX
- Category: Technical analysis
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Price is currently reacting from a key support zone aligned with the 0.65 Fibonacci retracement, placing us firmly in a discount region.
Following a clear break of structure to the upside, the market has pulled back into a high-probability demand zone, sweeping short-term liquidity in the process.
This area presents a strong case for bullish continuation if buyers maintain control.
Key Confluences:
Previous resistance turned support
Discount zone (0.62–0.79 fib range)
Liquidity sweep
Demand zone reaction
Trade Plan:
Entry: 1.3480 – 1.3520
SL: Below 1.3440
TP: 1.3580 / 1.3650 / 1.3700
Waiting for lower timeframe confirmation before execution. 30 min CHOCH is perfect.
GBPUSD 4HR BUY SETUP — BUY FROM DISCOUNT ZONE