GBPUSD 540 Pips Drop expected Is it will come within channel ?

GBPUSD
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⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ Channel breakout-H4
2️⃣ Downward Channel breakout and retest
3️⃣ Minor channel above the major downtrend channel
4️⃣ 1.30000 key psychological resistance
5️⃣ Price below .236 Fibonacci retracement level
6️⃣ Short term upward pressure
7️⃣ Technical support - Bear
8️⃣ Price is around POC-VOLUME
9️⃣ October low-Immediate resistance
🔟 Price movement within downtrend channel was expected
#️⃣ Overall bearish trend

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📉 Technical bias-H4-Bearish

Below 100,200 Exponential moving average
100,200 acting as immediate resistance
RSI- Around 35 - approaching oversold territory
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend
Ichimoku-cloud is turned red-Cloud resistance
Bollinger band- Price is around lower band-Minor rebound expected

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Key reversal area's
1.30000 Key psychological level
1.31800 October month high
1.29900 Minor channel turn level
1.26775 .382 Fibonacci level
1.24000 Key psychological level
1.24000 Lower channel trend line reversal zone
1.34780 Year 2020 High
1.28638 October month low

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Bearish entry #GBPUSD

Entry price - 1.29560

Take profit 01 - 1.28250 (125 pips)
Take profit 02 - 1.26780 (260 pips)
Take profit 03 - 1.24100 (540 pips)

🚫 Stop lose 1.30260 (70 pips)

⬇️ 4.28% Drop expected
⤴️ Account growth 0.53 : 4.28
✅ Risk reward ratio 1 : 8

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