GBPUSD GBP/USD Bearish Continuation with Potential Reversal ZonesAnalysis:
The chart displays the GBP/USD 4-hour timeframe with several key elements:
Price Action and SMC:
Change of Character (ChOCH): Identified at the beginning of the chart, indicating a potential shift in market structure.
Break of Structure (BOS): Multiple BOS points are marked, indicating bearish momentum and confirming the downtrend.
Fibonacci Retracement Levels: The retracement levels (0.382, 0.5, 0.618, 0.705, 0.786) are plotted, highlighting potential reversal zones.
Volume Profile:
The volume profile on the right side shows significant volume nodes around 1.26698 and 1.24866, indicating strong resistance levels.
Lower volume nodes around 1.22378 suggest potential support.
Indicators:
Relative Strength Index (RSI): The RSI is currently around 33.14, indicating oversold conditions, which could lead to a potential reversal or consolidation.
Buy Strategy:
Entry: 1.22378 (near the support level and oversold RSI)
Take Profit 1 (TP1): 1.23356 (0.382 Fibonacci level) - 97.8 pips
Take Profit 2 (TP2): 1.23960 (0.618 Fibonacci level) - 158.2 pips
Stop Loss (SL): 1.21700 (below the recent low) - 67.8 pips
Sell Strategy:
Entry: 1.24866 (near the resistance level and high volume node)
Take Profit 1 (TP1): 1.23356 (0.382 Fibonacci level) - 151 pips
Take Profit 2 (TP2): 1.22378 (support level) - 248.8 pips
Stop Loss (SL): 1.25500 (above the recent high) - 63.4 pips
VIP Signal:
Buy: 1.22378
TP1: 1.23356 (97.8 pips)
TP2: 1.23960 (158.2 pips)
SL: 1.21700 (67.8 pips)
Sell: 1.24866
TP1: 1.23356 (151 pips)
TP2: 1.22378 (248.8 pips)
SL: 1.25500 (63.4 pips)
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This comprehensive analysis provides detailed buy and sell strategies using the Smart Money Concepts (SMC), ICT Elliott Wave, and Price Action strategies, incorporating all relevant indicators displayed on the chart.
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Alex Gold Hunter
Free Signals & analysis
Join for Free
Scalping Signals
t.me/Pipsschase09
Swing Signal
t.me/alexgoldhunting
Free Signals & analysis
Join for Free
Scalping Signals
t.me/Pipsschase09
Swing Signal
t.me/alexgoldhunting
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.