Get started
miansarimhameed

GBPUSD: Anticipating Bearish Momentum with Double Top Formation

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
miansarimhameed Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators Double Top Divergence necklinetrade Contains image
16
4
trendanalysis chartpattern indicator doubletop divergence necklinetrade containsimage
The GBPUSD currency pair has established a distinctive double top pattern, coupled with a discernible bearish divergence, as observed on the 1-hour timeframe. This confluence of technical indicators suggests a potential forthcoming downward movement. Our strategy involves initiating a trade position when the neckline of the double top formation is breached to the downside.
Trade closed: target reached
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.