📉 Technical Breakdown
GBP/USD has formed a clear double top pattern at the 1.35934 high, where price failed to break through the higher timeframe supply zone around 1.36000. Despite a strong attempt to rally, price was rejected from that level and has since pulled back, now sitting right at the 4H 44 EMA and testing the previous higher low at 1.35000.
While structure, momentum, and volume still lean bullish for now, this area is critical. If 1.35000 holds, the pair could resume its uptrend — forming another higher low and continuing toward new highs.
However, if 1.35000 breaks, it would confirm a 4H structure shift to bearish. That opens the door for a deeper move into 1.34156, with potential continuation toward 1.32506 and even 1.31421, confirming the larger double top formation.
Until a clear break occurs, this remains a decision zone — but all eyes are now on whether bulls can defend structure or whether bears take over from here.
📌 Trade Setup Outlook
There are two approaches to consider depending on risk tolerance and confirmation preference:
1. Aggressive Entry:
• Entry: Break below 1.35000
• Stop Loss: Just above 1.36000
• Target 1: 1.34156
• Target 2: 1.32506
• Target 3: 1.31421
This approach anticipates immediate continuation after structure breaks, but comes with slightly higher risk due to limited confirmation.
2. Conservative Entry (Confirmation-Based):
• Trigger: Break and close below 1.35000
• Entry: On a retest of the broken structure, ideally around 1.3500–1.3525
• Stop Loss: Above 1.36000
• Same Targets: 1.34156 → 1.32506 → 1.31421
This approach waits for confirmation that a lower high has formed, increasing the probability of a clean continuation to the downside.
💬 Will GBP/USD break below 1.3500 and shift bearish — or will bulls step back in and defend the trend?
Comment your thoughts below or like this idea if the breakdown helped clarify the current setup 🔍
GBP/USD has formed a clear double top pattern at the 1.35934 high, where price failed to break through the higher timeframe supply zone around 1.36000. Despite a strong attempt to rally, price was rejected from that level and has since pulled back, now sitting right at the 4H 44 EMA and testing the previous higher low at 1.35000.
While structure, momentum, and volume still lean bullish for now, this area is critical. If 1.35000 holds, the pair could resume its uptrend — forming another higher low and continuing toward new highs.
However, if 1.35000 breaks, it would confirm a 4H structure shift to bearish. That opens the door for a deeper move into 1.34156, with potential continuation toward 1.32506 and even 1.31421, confirming the larger double top formation.
Until a clear break occurs, this remains a decision zone — but all eyes are now on whether bulls can defend structure or whether bears take over from here.
📌 Trade Setup Outlook
There are two approaches to consider depending on risk tolerance and confirmation preference:
1. Aggressive Entry:
• Entry: Break below 1.35000
• Stop Loss: Just above 1.36000
• Target 1: 1.34156
• Target 2: 1.32506
• Target 3: 1.31421
This approach anticipates immediate continuation after structure breaks, but comes with slightly higher risk due to limited confirmation.
2. Conservative Entry (Confirmation-Based):
• Trigger: Break and close below 1.35000
• Entry: On a retest of the broken structure, ideally around 1.3500–1.3525
• Stop Loss: Above 1.36000
• Same Targets: 1.34156 → 1.32506 → 1.31421
This approach waits for confirmation that a lower high has formed, increasing the probability of a clean continuation to the downside.
💬 Will GBP/USD break below 1.3500 and shift bearish — or will bulls step back in and defend the trend?
Comment your thoughts below or like this idea if the breakdown helped clarify the current setup 🔍
Note
🔄 GBPUSD Update – No Entry Yet, But Setup Intact
Price did not break above the $1.35000 level as anticipated. Instead, we’ve seen a clean retest of the marked supply zone (highlighted in red on the chart), and price is respecting that area well.
📌 No valid entry trigger has printed yet, but the bearish bias remains intact and the structure continues to align with the short setup. Still watching for confirmation to enter.
Patience — trade idea is still developing.
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.
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.