GBPUSD on the monthly chart found a strong resistance at the 1.20 area over a monthly structure and a descending trendline.
On the weekly chart the price broke the descending weekly channel and retest the weekly resistance become support at 1.27.
We can see on the daily chart that price is now testing the 1.30 area and if there will be a clear break of it , at the restest we can look for a nice long order according with to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
On the weekly chart the price broke the descending weekly channel and retest the weekly resistance become support at 1.27.
We can see on the daily chart that price is now testing the 1.30 area and if there will be a clear break of it , at the restest we can look for a nice long order according with to Plancton's strategy.
------
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.