Hello traders:
WE have a potential sell setup forming on GBPUSD. The 4 hr chart is forming a bearish flag pattern, and if we see the price action breaks down pass the 1.2960, it would be a nice risk:reward trade down to the recent lows. The daily chart confirmed the short term bearish momentum as we see a rejection off the 1.3080 resistance area.
Potential target down to 1.2850, previous lows of the price action.
Thank you for your support and feedback.
JoJo
WE have a potential sell setup forming on GBPUSD. The 4 hr chart is forming a bearish flag pattern, and if we see the price action breaks down pass the 1.2960, it would be a nice risk:reward trade down to the recent lows. The daily chart confirmed the short term bearish momentum as we see a rejection off the 1.3080 resistance area.
Potential target down to 1.2850, previous lows of the price action.
Thank you for your support and feedback.
JoJo
Note
Daily chart here:Note
still no breakout, look for opportunity after the FOMC event
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Related publications
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.