Is GBPUSD low at 1.2616 going to hold and become a W bottom(3)

2023년 8월 17일

This is in reference to our previous idea of us entering on the 4H timeframe bottom confirmation towards a daily bottom and then a weekly bottom to confirm. It was entered based on price and volume spread analysis rationale.

As of today,the daily bar seems to be going in our favour for the 4th day in a row. Let us see if the bottom confirms on the daily today according to the Smart Money framework and indicator.
If it does, we would have got the 1st part right of the 4h bottom confirming to become the daily bottom and then the last part which we need to see if it goes to confirm the weekly bottom.

Refn Images as below.