GBPUSD is providing us another short opportunity on the 4h chart . The GBP pairs together with most of the EUR pairs are getting weaker due to the uncertain situation of the new cold war with Russia and the the market seems to lose momentum after the attempt to break above the weekly resistance that ends with a false breakout.
How can we approach this scenario?
The price is now testing a confluence zone between a minor support and an ascending trendline and we will wait the weekly market open to check for a possible break below. In that case, I will check for an opportunity to set a short order according to the Plancton's academy rules.
------ 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.
Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.