I'm just here to learn Forex trading. Learning and adjusting every day. Feel free to critique my analysis, any constructive criticism is welcome. For trading humor, check out @terribletrader on Instagram.
GBP/USD has found support at this zone and created a lower low formation. We can wait for a break of this zone for short entries, or we can wait for it to exhaust / retrace / pullback to the major level above for a double top and short entry there.
GBP has been very strong across most of the pairs. It is possible that we could see exhaustion soon, and then continuation through this bullish channel. I would expect exhaustion / pullback to the zone below for a long opportunity.
GBP/USD has reached the top of the 8H channel and could form a head and shoulders pattern. The red line is a weekly resistance line that has held for years and the purple zone here is a strong resistance zone. it is possible to see a fall to the bottom of the ascending channel.
GBP is down overall. JPY could make a newer high. Structure was broken to the downside, I see multiple 4H candle wick rejections on the attempt to the upside again. I believe it is possible for price to descend from here.
GBP/USD broke out of the trendline and then broke right back in. When I look at it from a technical standpoint, it is possible that we could see it continue upward to form more bullish structure to previous highs.