Happy new week guys, for the week we are expecting a target at extensions -27.0%,-61.8% retracement level, and hopefully the high of the week sits there and issues us a return sell for the week
This is an update to the Tech tools for this trade, we have a new Key support level, if you check, the color for the previous zone was red indicating Resistance, so now there as been a role reversal
GBPUSD CURRENTLY SITTING AT BOTTOM OF ASCENDING CHANNEL. WE HOPE TO SEE A POTENTIAL UPSIDE MOVEMENT AS WE ARE CURRENTLY IMPULSIVE BULLISH ON THE MONTHLY TIMEFRAME
For a Valid sell trade setup, we already have a break of structure, we need to wait for a pullback and see if price is going to give us a lower high point, which is when we enter.
Should ATH 34800 hold, Price is most likely going to retrace back to 50.0 retracement on the daily TF, we need a break of the highlighted support, which confirms a break in structure on H4, entry is at any bearish engulfing candle formed during the pullback when the support gets broken.
