GBPUSD 15/05/2022
Looking to short GU from 1.23000. Possible third touch of descending trendline
Confluences:
- Bearish market structure as LLs and LHs are being printed.
- Broke below 1.23000 support region without retest.
- Retest level (1.23000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal level + third tap of the descending trendline
TP 1: 1.21900
TP 2: 1.20950
Confluences:
- Bearish market structure as LLs and LHs are being printed.
- Broke below 1.23000 support region without retest.
- Retest level (1.23000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal level + third tap of the descending trendline
TP 1: 1.21900
TP 2: 1.20950
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