Chart: 4h | Symbol: GBPUSD
Target 1: 1.2560 | Target 2: 1.2210
British Pound (GBPUSD) has just broken below a parallel channel support, signaling a strong bearish continuation as sellers take control!
What We’re Seeing:
⚡ Price broke below channel support at 1.3140 with momentum
⚡ Volume increasing on the breakdown – bearish pressure building
⚡ Clear downtrend resuming after a consolidation phase
⚡ Target Zones: 1.2560(first target) and 1.2210 (second target) – based on channel projection
Next Move:
The breakdwon below 1.3100 confirms the bearish setup. Expect a steady decline toward the first target, with potential for further downside if momentum holds!
TRADE PLAN:
🔔 Entry: On breakout confirmation below 1.3100 (current price: 1.29310)
🎯 Target 1: 1.2567 | Target 2: 1.2210
🛡 Stop Loss: Above 1.29790 (just above recent high for risk control)
Final Note:
GBPUSD is showing strong bearish momentum after this channel breakdown. Stay disciplined, manage your risk, and be ready for a potential sharp move lower if selling pressure continues!
Target 1: 1.2560 | Target 2: 1.2210
British Pound (GBPUSD) has just broken below a parallel channel support, signaling a strong bearish continuation as sellers take control!
What We’re Seeing:
⚡ Price broke below channel support at 1.3140 with momentum
⚡ Volume increasing on the breakdown – bearish pressure building
⚡ Clear downtrend resuming after a consolidation phase
⚡ Target Zones: 1.2560(first target) and 1.2210 (second target) – based on channel projection
Next Move:
The breakdwon below 1.3100 confirms the bearish setup. Expect a steady decline toward the first target, with potential for further downside if momentum holds!
TRADE PLAN:
🔔 Entry: On breakout confirmation below 1.3100 (current price: 1.29310)
🎯 Target 1: 1.2567 | Target 2: 1.2210
🛡 Stop Loss: Above 1.29790 (just above recent high for risk control)
Final Note:
GBPUSD is showing strong bearish momentum after this channel breakdown. Stay disciplined, manage your risk, and be ready for a potential sharp move lower if selling pressure continues!
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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.
Related publications
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.