This chart shows a technical analysis setup for GBP/USD on the 4-hour timeframe. Here’s a breakdown of what’s presented:
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🧠 Chart Interpretation
Current Price: Around 1.35542
Resistance Level: 1.36168 (price recently tested this)
Stop Loss (SL): Marked above resistance, indicating a short (sell) setup with a tight SL
Support Levels / Target Points:
1. Green zone: ~1.34471 (minor target/support)
2. Orange zone: ~1.32675 (medium-term target)
3. Red zone: ~1.31354 (longer-term target)
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📉 Trade Setup Insight
Bias: Bearish
Trigger: Break and close below trendline or key support around 1.355–1.344
Entry: Possibly around current levels (~1.35542) or after trendline break
Take Profit (TP): Staged at each target level
Stop Loss (SL): Just above 1.36168 (to avoid fakeouts)
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📌 Summary Strategy
Setup: Short GBP/USD on trendline break
SL: ~1.36168
TP1: ~1.34471
TP2: ~1.32675
TP3: ~1.31354
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Let me know if you want help translating this to a trade plan, backtesting this pattern, or automating this setup in a trading bot or script.
---
🧠 Chart Interpretation
Current Price: Around 1.35542
Resistance Level: 1.36168 (price recently tested this)
Stop Loss (SL): Marked above resistance, indicating a short (sell) setup with a tight SL
Support Levels / Target Points:
1. Green zone: ~1.34471 (minor target/support)
2. Orange zone: ~1.32675 (medium-term target)
3. Red zone: ~1.31354 (longer-term target)
---
📉 Trade Setup Insight
Bias: Bearish
Trigger: Break and close below trendline or key support around 1.355–1.344
Entry: Possibly around current levels (~1.35542) or after trendline break
Take Profit (TP): Staged at each target level
Stop Loss (SL): Just above 1.36168 (to avoid fakeouts)
---
📌 Summary Strategy
Setup: Short GBP/USD on trendline break
SL: ~1.36168
TP1: ~1.34471
TP2: ~1.32675
TP3: ~1.31354
---
Let me know if you want help translating this to a trade plan, backtesting this pattern, or automating this setup in a trading bot or script.
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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.