So does the opposite holds true? What goes down must come up? - Just trying to be funny to catch your eyes to read this post. If you like it, please like and share.
In the currency market, please do not just buy for the sake of buying because the pair is cheap. During the financial crisis in 2008, the EURUSD dropped from 1.58 to the lows of 1.05, country after country in the EU facing the financial crunch and defaulting on their loans. It shows that what goes down can go down further.
How do I trade it? Always find a reason to take the trade. The more reasons to support your view/direction of the market the better it is.
GBPUSD - I see a Bullish 5-0 setting up on the H4 charts
I would prefer to see some sort of reversal patterns on the lower time frame to go long on this pair. Will be monitoring this trade.
Cheers.... If you like what I am doing, like and share this post so more can benefit from this.