TheSignalyst

GBPUSD - Wait for the Bears πŸ“‰

FX:GBPUSD   British Pound / U.S. Dollar
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

πŸ“ˆ GBPUSD has been overall bullish, trading within the rising channel in blue.

At present, GBPUSD is approaching the upper bound of the channel acting as an over-bought zone.

Moreover, it is retesting a strong supply zone.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green supply and upper blue trendline.

πŸ“š As per my trading style:
As #GBPUSD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

πŸ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Trading Made Simple; and Rule-Based
www.RichTL.com

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