GBP/USD has reached its weekly resistance level, forming a bearish divergence alongside an almost double-top pattern, signaling potential downside pressure. While the U.S. dollar may exhibit temporary bullish momentum, contributing to a potential reversal in GBP/USD, caution is advised as the ABCD pattern remains incomplete. Traders should be mindful of this incomplete formation and manage risk appropriately when considering a reversal trade.
Trade active
Order triggeredTrade closed: target reached
TP 1 Hit. Stop loss to breakevenNote
ride the price till tp2Trade closed: target reached
Target 2 Hit. Wonderful!
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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.