GBP/USD Short
Price is respecting a monthly chart trendline so maybe we won't see a test to the nearer resistance @ 1.3475.
The weekly candle of this last week closed as a nice shooting star.
We had a retest on the 1 hour chart after a break of the most recent bullish trendline where there was a nice entry.
I would still enter watching the 4 hour chart with a pending sell stop looking for a 3:1 R:R or we could also see another retest but now on the 4 hour chart on the trendline where there is also a "x mark the spot" and getting a much better entry and our pending order potentially nothing being triggered.
The weekly candle of this last week closed as a nice shooting star.
We had a retest on the 1 hour chart after a break of the most recent bullish trendline where there was a nice entry.
I would still enter watching the 4 hour chart with a pending sell stop looking for a 3:1 R:R or we could also see another retest but now on the 4 hour chart on the trendline where there is also a "x mark the spot" and getting a much better entry and our pending order potentially nothing being triggered.
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.