📈 GBP/USD – 1H Chart Analysis
Price formed a Rising Wedge Pattern, which typically signals a bearish reversal. After a period of consolidation, the pair started trending upwards inside the wedge, but momentum appears to be fading.
🔍 Current Price: 1.35350
📉 Pattern: Rising Wedge (Bearish)
If price breaks below the lower trendline, we could see a drop towards the following support levels:
🟡 Support Zones:
1️⃣ 1.30142 (1st support level)
2️⃣ 1.28735
3️⃣ 1.27081
⚠️ Breakdown confirmation with volume is key. A failed breakout to the upside could also trap buyers before the real move down.
🔔 Stay alert for price action near wedge boundaries!
📌 Not financial advice. For educational purposes only.
Price formed a Rising Wedge Pattern, which typically signals a bearish reversal. After a period of consolidation, the pair started trending upwards inside the wedge, but momentum appears to be fading.
🔍 Current Price: 1.35350
📉 Pattern: Rising Wedge (Bearish)
If price breaks below the lower trendline, we could see a drop towards the following support levels:
🟡 Support Zones:
1️⃣ 1.30142 (1st support level)
2️⃣ 1.28735
3️⃣ 1.27081
⚠️ Breakdown confirmation with volume is key. A failed breakout to the upside could also trap buyers before the real move down.
🔔 Stay alert for price action near wedge boundaries!
📌 Not financial advice. For educational purposes only.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
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.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
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.