Timeframe: 4H
Analysis by: WORLDBESTTRADERS
After weeks of consolidation inside a well-defined range, GBP/USD has finally broken below the support zone. This signals a potential shift in momentum from sideways to bearish.
Key Observations:
Price was ranging between approximately 1.3200–1.3410.
A clean break below the support zone has occurred, indicating sellers have taken control.
A bearish continuation pattern is forming, with signs of retesting the broken support as new resistance.
If the retest holds, we expect further downside toward the next major support area around 1.2746.
Trade Plan (Idea Only):
Bias: Bearish
Potential Entry (after confirmation): Near 1.3200–1.3220
Target: 1.2746
Invalidation: A strong daily close back inside the range could neutralize the setup.
Note: Always use proper risk management and wait for confirmation before entering a trade.
Analysis by: WORLDBESTTRADERS
After weeks of consolidation inside a well-defined range, GBP/USD has finally broken below the support zone. This signals a potential shift in momentum from sideways to bearish.
Key Observations:
Price was ranging between approximately 1.3200–1.3410.
A clean break below the support zone has occurred, indicating sellers have taken control.
A bearish continuation pattern is forming, with signs of retesting the broken support as new resistance.
If the retest holds, we expect further downside toward the next major support area around 1.2746.
Trade Plan (Idea Only):
Bias: Bearish
Potential Entry (after confirmation): Near 1.3200–1.3220
Target: 1.2746
Invalidation: A strong daily close back inside the range could neutralize the setup.
Note: Always use proper risk management and wait for confirmation before entering a trade.
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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.
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.