The GBP/USD pair is approaching the high from last month, which aligns with March's peak, creating a robust resistance level. This scenario suggests a high probability of a significant sell-off, continuing the bearish trend observed in July.
This move is anticipated to close the daily and weekly Fair Value Gaps (FVG).
This move is anticipated to close the daily and weekly Fair Value Gaps (FVG).
Note
Very Nice rejection and a 4H candle from our 0.886 Retracement now we have both orders activated and should hold for a nice move down to fill the 2 FVGsTrade active
As anticipated, I was expecting a strong sell-off reaction at our 0.886 Fib retracement level, and it happened. We can see a strong bearish candle on the 4H chart below both entries. I'm still bearish and holding my position. Follow me for more trades—it's free.
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.