ant_capital

GBPUSD 4h Analysis May 17th, 2021

FX:GBPUSD   British Pound / U.S. Dollar
As the dollar strengthen last week we saw a retrace of this bullish movement to create a support level. Now that we are trading at consolidation we wanted to see 2 scenarios. A break above structure high or a rejection of the resistance. If it breaks above we are going to enter after a retest to have safer position. But if it rejects the resistance level then we are short towards the support level in 4h.

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.