Hello traders:
WE have a potential sell setup forming on GBPUSD. The 4 hr chart is forming a bearish flag pattern, and if we see the price action breaks down pass the 1.2960, it would be a nice risk:reward trade down to the recent lows. The daily chart confirmed the short term bearish momentum as we see a rejection off the 1.3080 resistance area.
Potential target down to 1.2850, previous lows of the price action.
Thank you for your support and feedback.
JoJo
WE have a potential sell setup forming on GBPUSD. The 4 hr chart is forming a bearish flag pattern, and if we see the price action breaks down pass the 1.2960, it would be a nice risk:reward trade down to the recent lows. The daily chart confirmed the short term bearish momentum as we see a rejection off the 1.3080 resistance area.
Potential target down to 1.2850, previous lows of the price action.
Thank you for your support and feedback.
JoJo
Comment:
Daily chart here:
Comment:
still no breakout, look for opportunity after the FOMC event
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