GBPUSD 4H Outlook | Bearish
GBPUSD is continuously making LH, LL.
Earlier, the daily and 4H timeframe made divergence, followed by a flat top divergence after which this bearish trend started.
It has formed a bearish channel that is still valid.
A key support area is found around 1.26105.
Trade plan:
Place a sell stop order when LL breaks
Stop Loss: 1.29984
Sell Stop : 1.29035
TP1: 1.2809
TP2: 1.2714
Start with a minimal position and add after channel confirmation.
Earlier, the daily and 4H timeframe made divergence, followed by a flat top divergence after which this bearish trend started.
It has formed a bearish channel that is still valid.
A key support area is found around 1.26105.
Trade plan:
Place a sell stop order when LL breaks
Stop Loss: 1.29984
Sell Stop : 1.29035
TP1: 1.2809
TP2: 1.2714
Start with a minimal position and add after channel confirmation.
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.
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.