GBP/USD Bearish Range Breakdown Setup
The chart presents a clear triple top formation at the 1.37650 resistance zone, indicating strong selling pressure at this level. Each peak has failed to break higher, suggesting exhaustion in buying momentum.
Price is currently consolidating within a defined range between 1.37650 (resistance) and 1.36971 (support).
Key Observations:
Triple top formation confirms bearish sentiment.
Price is hovering near the lower support zone of 1.36971.
Ichimoku cloud is acting as a dynamic resistance overhead, reinforcing bearish pressure.
A break below 1.36971 will likely confirm bearish continuation.
🧭 Trade Plan:
Entry: Below 1.36971 after a confirmed retest.
Stop-loss: Above 1.37350 (within range).
Target: 1.36338 support zone.
Risk-Reward Ratio: ~1.5:1 (based on 40 pip SL and 60+ pip TP)
⚠️ Key Reminders:
Watch for fakeouts — wait for candle close confirmation below 1.36971.
Be cautious of high-impact news events that may cause volatility.
Adjust SL/TP dynamically if momentum accelerates post-breakout.
Summary:
A break below 1.36971 will validate the triple top and range breakdown setup, opening the path toward 1.36338. Patience is key—wait for confirmation before entering.
The chart presents a clear triple top formation at the 1.37650 resistance zone, indicating strong selling pressure at this level. Each peak has failed to break higher, suggesting exhaustion in buying momentum.
Price is currently consolidating within a defined range between 1.37650 (resistance) and 1.36971 (support).
Key Observations:
Triple top formation confirms bearish sentiment.
Price is hovering near the lower support zone of 1.36971.
Ichimoku cloud is acting as a dynamic resistance overhead, reinforcing bearish pressure.
A break below 1.36971 will likely confirm bearish continuation.
🧭 Trade Plan:
Entry: Below 1.36971 after a confirmed retest.
Stop-loss: Above 1.37350 (within range).
Target: 1.36338 support zone.
Risk-Reward Ratio: ~1.5:1 (based on 40 pip SL and 60+ pip TP)
⚠️ Key Reminders:
Watch for fakeouts — wait for candle close confirmation below 1.36971.
Be cautious of high-impact news events that may cause volatility.
Adjust SL/TP dynamically if momentum accelerates post-breakout.
Summary:
A break below 1.36971 will validate the triple top and range breakdown setup, opening the path toward 1.36338. Patience is key—wait for confirmation before entering.
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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.
🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.