July 5th GBPUSD

Looks like a breakout from the downtrend, but I do think the breakout cannot be solidified yet due to Independence Day with extremely low liquidity.

I am neutral at this moment, but I do think this uptrend is not too sustainable with some downside certainly. If it falls into the downside trend again, we can then play the short game. But as for now, watch for the small uptrend, long or short depends on the trend and needs 4hrs candles confirmation.

Comment:

Now this would be the case to watch for. Outside of the upward trend, but still no confirmation yet. Looking at 30 minutes and I see bearish signals, but wait & play will always be the best strategy.

I am opening 1/5 of my planned position, and let's see what happens next.