GBP/USD_1st Week of May 2021
1. Instead of breaking above the weekly trendline and creating HH & HL, price didn't breakthrough and continue making correction and forming larger channel's structure. Potentially price to hit S1 level
3. Expecting correction at 61.8% for price to resume bearish
4. Aiming for Short position at area highlighted in yellow
* Best to wait for the price action and correction structure to complete before taking any position
3. Expecting correction at 61.8% for price to resume bearish
4. Aiming for Short position at area highlighted in yellow
* Best to wait for the price action and correction structure to complete before taking any position
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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.
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.