GBPUSD is attempting to recover on H4 after the strong decline from 1.3600, but price still remains below the larger EMA resistance near 1.3450–1.3460.
The rebound from 1.3380 has slowed, suggesting the current move still looks more like a corrective bounce rather than a confirmed bullish reversal.
Trade Plan
Buy setup: only consider longs if GBPUSD breaks and holds above 1.3465. Targets are 1.3500 and 1.3520.
Sell setup: if price rejects again from 1.3450–1.3460, targets are 1.3400 and 1.3380.
Continuation sell: if 1.3380 breaks, the next downside zone becomes 1.3350.
Invalidation: strong H4 close above 1.3465.
The rebound from 1.3380 has slowed, suggesting the current move still looks more like a corrective bounce rather than a confirmed bullish reversal.
Trade Plan
Buy setup: only consider longs if GBPUSD breaks and holds above 1.3465. Targets are 1.3500 and 1.3520.
Sell setup: if price rejects again from 1.3450–1.3460, targets are 1.3400 and 1.3380.
Continuation sell: if 1.3380 breaks, the next downside zone becomes 1.3350.
Invalidation: strong H4 close above 1.3465.
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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.