GBP/USD | Testing Supply Zone and Setting Up for Possible Drop!

By analyzing the #GBPUSD chart on the 4 hour timeframe, we can see that after the initial drop, price bounced and pushed back into the 1.344 supply zone. Once it hit that level, strong selling pressure kicked in and GBPUSD dropped to 1.334. Right now the pair is trading around 1.336.
If price can hold below 1.33790, we can expect a deeper decline. If it fails to stay below that level, we may first see a pullback toward 1.340 before any major drop happens.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
If price can hold below 1.33790, we can expect a deeper decline. If it fails to stay below that level, we may first see a pullback toward 1.340 before any major drop happens.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Trade active
By analyzing the #GBPUSD chart on the 4 hour timeframe, we can see that price has once again entered the supply zone between $1.34320 and $1.34720. After reaching this key area, selling pressure stepped in and price dropped to $1.34.At the moment, #GBPUSD is trading around $1.342. If price can stay below this supply zone until tomorrow’s London session, I expect a much stronger bearish move. If this scenario fails, the alternative path would be a move higher toward the $1.348 target. Stay tuned for the next update.
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⚜️ Free TG Channel : t.me/PriceAction_ICT
✅ Trade directly on TradingView with Opo 👉 bit.ly/4nw4Dzz
✅ OneBullEx | Spartan Arena
Real-market trading competition
onebullex.com/register?inviterCode=7KmSDn
✅ Trade directly on TradingView with Opo 👉 bit.ly/4nw4Dzz
✅ OneBullEx | Spartan Arena
Real-market trading competition
onebullex.com/register?inviterCode=7KmSDn
Related publications
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.