In my weekend analysis, I pointed out that the Weekly Pinbar candlestick pattern indicates that GBPUSD Bulls are getting weak. That set-up is still valid.
However, in the 4H Chart, downtrend lacks momentum.
A break below the 4H support will confirm the downtrend.
My plan is to either sell close to the previous high around 1.26 or wait for a confirmation of the downtrend and then sell on lower TFs.
However, in the 4H Chart, downtrend lacks momentum.
A break below the 4H support will confirm the downtrend.
My plan is to either sell close to the previous high around 1.26 or wait for a confirmation of the downtrend and then sell on lower TFs.
Note
just a quick update. While Gbpusd reaches a proper zone, we had a good 200+ pips profit from buying GBPAUD yesterday. Thought this might be helpful to the GBP traders
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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.