GBP 4H chart indicates downtrend.
The former bullish channel has been broken.
At the moment the price is a little above of 0.618 Fib level starting from the last swing high.
If the resistance does not hold, then it may be a shift in the trend.
Until then, I more into shorts for the pair.
The former bullish channel has been broken.
At the moment the price is a little above of 0.618 Fib level starting from the last swing high.
If the resistance does not hold, then it may be a shift in the trend.
Until then, I more into shorts for the pair.
Trade active
IC Markets SC price ->1.62900, so 50 pips in profit. Closing 30% of position.Note
Target 1 achieved at the recent support. The rest to BE.Note
BE closed the residual.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.