GBP Daily and intra-day chart
There were two plays at the start of this week: - the rotation back towards the Weekly 50% level or down into the Weekly lows, and that was defined by the RISK level on Monday.
A break above the level on Monday, and it's following the rotation towards the weekly 50% level, pushing UP towards the 3-day high and stalling.
On Tuesday the expectation is that it will push upwards into the 3-day highs once again, but with the 5-day 50% levels and 3-day highs acting as resistance zones, it's a bit too early to tell whether there is going to be any higher moves on Tuesday.
GBP intra-day chartsAt this stage I don't have a high probability set-up, there is major resistance around the 3-day highs on Tuesday but it's an each way bet whether price reverses back down or not.
The reason why is, I think GBP/USD looks to be consolidating into the end of the Quarter and might just end up rotating around the 50% levels for the next few days.
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