This chart presents a bearish trading setup for GBP/USD on a 4-hour timeframe from OANDA.
Key Observations:
Ascending Channel Breakdown: GBP/USD was previously trading inside an ascending channel, but it has now broken below support, signaling a potential downtrend.
Retest Level: The price is currently retesting the broken support at 1.29645, which may act as a new resistance.
Resistance Zone: The key resistance level is at 1.30261, marking the last swing high before the breakdown.
Bearish Target: The expected downside target is at 1.26827, aligning with a previous demand zone and support level.
Trading Plan:
Entry: Consider short positions after rejection from the 1.29645 retest.
Stop Loss: Place above 1.30261 to avoid false breakouts.
Take Profit: First target at 1.26827, with the possibility of further downside.
Market Outlook:
If the price fails to reclaim the broken support and starts dropping, it could confirm a bearish trend continuation, making this a strong short setup.
Key Observations:
Ascending Channel Breakdown: GBP/USD was previously trading inside an ascending channel, but it has now broken below support, signaling a potential downtrend.
Retest Level: The price is currently retesting the broken support at 1.29645, which may act as a new resistance.
Resistance Zone: The key resistance level is at 1.30261, marking the last swing high before the breakdown.
Bearish Target: The expected downside target is at 1.26827, aligning with a previous demand zone and support level.
Trading Plan:
Entry: Consider short positions after rejection from the 1.29645 retest.
Stop Loss: Place above 1.30261 to avoid false breakouts.
Take Profit: First target at 1.26827, with the possibility of further downside.
Market Outlook:
If the price fails to reclaim the broken support and starts dropping, it could confirm a bearish trend continuation, making this a strong short setup.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.