technical analysis based on the GBP/USD 1H chart data I'm provided:
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GBP/USD 1H Chart Pattern Analysis
Current Market Price: 1.34700 (Sell Initiated)
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Key Technical Levels:
Resistance: 1.35000
(Previous swing high / potential supply zone)
Sell Entry: 1.34700
(Just below resistance — indicates early entry on rejection confirmation)
Target 1: 1.33500
(Short-term support or minor demand zone)
Target 2: 1.32500
(Major support — longer-term objective)
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Technical Pattern Analysis:
Bearish Rejection at Resistance: Price failed to break 1.35000, showing signs of exhaustion — a classic bearish reversal signal.
Potential Double Top Formation: If 1.35000 was tested more than once and failed, this strengthens bearish sentiment.
Descending Momentum Indicators (if confirmed by RSI/EMA): Would support short bias.
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Trade Idea (Short Bias):
Sell Entry: 1.34700 (executed)
Stop Loss: Above 1.35000 (suggested SL: 1.35200)
Take Profit 1: 1.33500 (partial close or move SL to breakeven)
Take Profit 2: 1.32500 (final TP if downtrend continues)
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Risk Note:
Ensure risk management is applied — ideally risk no more than 1-2% of account size per trade.
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Would you like a chart screenshot with trendlines, resistance, and target zones marked? I can generate a visual for clearer insight.
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GBP/USD 1H Chart Pattern Analysis
Current Market Price: 1.34700 (Sell Initiated)
---
Key Technical Levels:
Resistance: 1.35000
(Previous swing high / potential supply zone)
Sell Entry: 1.34700
(Just below resistance — indicates early entry on rejection confirmation)
Target 1: 1.33500
(Short-term support or minor demand zone)
Target 2: 1.32500
(Major support — longer-term objective)
---
Technical Pattern Analysis:
Bearish Rejection at Resistance: Price failed to break 1.35000, showing signs of exhaustion — a classic bearish reversal signal.
Potential Double Top Formation: If 1.35000 was tested more than once and failed, this strengthens bearish sentiment.
Descending Momentum Indicators (if confirmed by RSI/EMA): Would support short bias.
---
Trade Idea (Short Bias):
Sell Entry: 1.34700 (executed)
Stop Loss: Above 1.35000 (suggested SL: 1.35200)
Take Profit 1: 1.33500 (partial close or move SL to breakeven)
Take Profit 2: 1.32500 (final TP if downtrend continues)
---
Risk Note:
Ensure risk management is applied — ideally risk no more than 1-2% of account size per trade.
---
Would you like a chart screenshot with trendlines, resistance, and target zones marked? I can generate a visual for clearer insight.
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GBPUSD sell running 100 pips
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Gold Signal's with proper TP & SL for high profit opportunities..
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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.
📲 Join telegram channel free ..
t.me/Trade_With_Gold_King005
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Gold_Analysis_Experiment
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Trade_With_Gold_King005
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Gold_Analysis_Experiment
Gold Signal's with proper TP & SL for high profit opportunities..
Related publications
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.