GBP/USD 4hr channel
Updated
GBP/USD is either in an upward channel which is indicated by the pitchfork or a downward channel indicated by the trend lines. Seems like it was just moving to the bottom of the upward channel on the 4hr timeframe. Their are multiple resistance levels depending on how you want to draw them and how big you want those areas to be, but the pitchfork i used on the 4hr in the upward direction seems to be pretty consistent with how price is moving. GBP/USD and GBP/JPY for the moment atleast are very correlated with the direction that Gold is moving. Despite most people feeling like Gold is still moving downwards, it's hard to ignore the upward momentum that both GBP pairs and Gold seem to have vs the Dollar.
Trade active
Took profit at around 190 pips, waiting for re-entry after the the pullback after hitting the downward trendline. Looking for it to either reach 1.30000 or for it to break and hold above 1.30900Trade active
still running but looking to open some shorts a retracement soon
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