📉 Bearish Reversal Alert! GBP/USD has formed a Bearish EHNW Pattern, signaling a potential reversal near the 1.26720 – 1.26810 resistance zone.
🔍 Key Technical Insights:
Price is approaching the 1.618 Fibonacci extension of the O-X leg, a critical level for pattern completion.
The B-point retracement aligns with a 1.414 extension, reinforcing bearish confluence.
If price respects the 1.26720 – 1.26810 zone, we could see a sharp rejection leading to a potential drop toward lower support levels.
📊 Trading Outlook:
Bearish Confirmation: Watch for rejection signals in the resistance zone before entering short positions.
Invalidation: A strong break above 1.26810 could invalidate the setup.
Target Zones: Initial support levels around 1.26100 – 1.25800.
🔥 What’s Next? Will GBP/USD respect this bearish setup, or will bulls push through resistance? Drop your thoughts below & don’t forget to boost & share if you found this analysis valuable! 🚀📉
🔍 Key Technical Insights:
Price is approaching the 1.618 Fibonacci extension of the O-X leg, a critical level for pattern completion.
The B-point retracement aligns with a 1.414 extension, reinforcing bearish confluence.
If price respects the 1.26720 – 1.26810 zone, we could see a sharp rejection leading to a potential drop toward lower support levels.
📊 Trading Outlook:
Bearish Confirmation: Watch for rejection signals in the resistance zone before entering short positions.
Invalidation: A strong break above 1.26810 could invalidate the setup.
Target Zones: Initial support levels around 1.26100 – 1.25800.
🔥 What’s Next? Will GBP/USD respect this bearish setup, or will bulls push through resistance? Drop your thoughts below & don’t forget to boost & share if you found this analysis valuable! 🚀📉
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.