GBPUSD on the 4h chart is trading at the recent lows. The price after the last bearish impulse might look for some retracement to the upside.
How can i approach this scenario?
The market tested the 1.2300 area and is now trading below a minor resistance in a descending channel. I will look for a break of the structure and a possible test of the upper confluence zone.
------ Follow the Shrimp 🦐
Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.