GBPUSD Bear
Bias Bearish
Fundamental
GBP has reduce interest rate (reversing to bearish)
JPY still taking a strong bullish move (interest rate raise)
Price Action
Price retrace back to H4 SR level. Price rejected from the H4 SR level. Price formed a double top pattern. It has broke H1 Double top neckline SR level & Bullish Trendline from H1 TF.
Confluence
H4 SR level rejection. H1 SR broken Double Top Pattern. H1 bullish trendline retracement broken.
Setup
Short entry at H1 Broken SR level.
SL 2x ATR(20)
TP Lower Daily SR level R:R 1:6
Fundamental
GBP has reduce interest rate (reversing to bearish)
JPY still taking a strong bullish move (interest rate raise)
Price Action
Price retrace back to H4 SR level. Price rejected from the H4 SR level. Price formed a double top pattern. It has broke H1 Double top neckline SR level & Bullish Trendline from H1 TF.
Confluence
H4 SR level rejection. H1 SR broken Double Top Pattern. H1 bullish trendline retracement broken.
Setup
Short entry at H1 Broken SR level.
SL 2x ATR(20)
TP Lower Daily SR level R:R 1:6
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