GBPUSD - The pair failed to break out the downtrend line
GBPUSD failed to break out the trend line which may significate that the price will at least reach the Fib 50 around 1.2965.
More over on H4 we can notice that the forming rising wedge is being broken down by the price. All these information can reasonably give us confidence that the price will continue its fall.
Trading idea:
Sell GBPUSD
E: 1.3060
SL: 1.3150
TP1: 1.2970
TP2: 1.2930
More over on H4 we can notice that the forming rising wedge is being broken down by the price. All these information can reasonably give us confidence that the price will continue its fall.
Trading idea:
Sell GBPUSD
E: 1.3060
SL: 1.3150
TP1: 1.2970
TP2: 1.2930
Trade closed: stop reached