GBPUSD (Cable) H4 Bearish Outlook
Updated
The GBP/USD (British pound/U.S. dollar) is still bearish on the 4-hour chart but approaching a critical level of resistance that traders should be aware of.
We'll be watching the 1.19428 & 1.19140 price range with an eagle eye for possible short-term reversal.
We would love to have your opinion. Please comment below and like if you think this trading idea is worth a look.
Thanks for your time and support.
We'll be watching the 1.19428 & 1.19140 price range with an eagle eye for possible short-term reversal.
We would love to have your opinion. Please comment below and like if you think this trading idea is worth a look.
Thanks for your time and support.
Note
GBPUSD Cable price tested the minor resistance and rejected it as expected. There is a possibility of the price reaching the critical support level.As we early established. Let's watch the 1.19428 and 1.19140 price range with an eagle eye.
Happy profitable trading.
Note
So, our expectation of GBPUSD price reacting at the critical support level is currently playing out. There are two scenarios to look out for at the moment. The cable price is likely to retest the critical support level, if it holds then we can see the price continue the higher time frame uptrend.
I'll make another post to enable us to track the update since the objective of this thread is already achieved.
Congratulations to everyone who believed in the idea.
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