I still expect GBPUSD to turn around and go up.
But these green support/resistance line are very strong, pluss it looks like we might get an H&S pattern on 30min, which means price can go back down to test bottom red trendline.
So for now I think GBPUSD will go lower my TP is around 1.33830.
But in the bigger picture I'm searching for a buy entry.
Good luck!
But these green support/resistance line are very strong, pluss it looks like we might get an H&S pattern on 30min, which means price can go back down to test bottom red trendline.
So for now I think GBPUSD will go lower my TP is around 1.33830.
But in the bigger picture I'm searching for a buy entry.
Good luck!
Note
H&S isn't valid. But we have this weird wedge, if we break top line we can expect a true tren reversal or if top gets rejected again, my short TP is valid.
Note
I closed my sell order on GBPUSD in the night. I'm getting mixed signals right now.
Price is going higher to top of the big wedge, but it's still in the small wedge.
Will enter orders only when price breaks one of these.
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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.