VasilyTrader

GBPUSD May Retrace! Trading Plan

Short
FX:GBPUSD   British Pound / U.S. Dollar

GBPUSD is approaching a resistance line of a triangle on 4H.
the pair is currently quite weak so we will most likely see a pullback.

the strong bearish reaction should start from the underlined blue area on 1H chart
for confirmation, wait for a bearish breakout of a rising wedge.

target levels here a very limited:
1.301
1.298

stop will be above the highest point of the wedge

*if bulls push the market above the underlined resistance
the setup will be invalid and our bias will switch to bullish

✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel www.youtube.com/c/VasilyTrader

💰Instagram: www.instagram.com/VasilyTrader/ 💰

✅Facebook: www.facebook.com/VasilyTrading/
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.