GBP/USD 4H a potential Double Top formation, signalling a possible bearish reversal. Price was strongly rejected around the 1.3445–1.3447 zone twice, indicating strong selling pressure.
Current price is around 1.3392.
A second test of resistance is expected, followed by a sharp decline.
The projected target is around 1.3135, which aligns with a key support level.
Multiple **Change of Character (ChoCH) and Break of Structure (BOS) events validate the internal bearish bias.
This setup favours a short position after confirmation of rejection from the top resistance zone.
Current price is around 1.3392.
A second test of resistance is expected, followed by a sharp decline.
The projected target is around 1.3135, which aligns with a key support level.
Multiple **Change of Character (ChoCH) and Break of Structure (BOS) events validate the internal bearish bias.
This setup favours a short position after confirmation of rejection from the top resistance zone.
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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.