GBPUSD: Your Trading Plan For Today
GBPUSD is currently testing an important level of support on a short-term chart.
To consider shorting the pair, look for an ascending triangle pattern on a 4-hour timeframe.
A confirmation signal would be a breakout above the horizontal neckline, specifically a 4-hour candle closing above 1.2616.
If this occurs, consider aggressively shorting the market or waiting for a retest before entering a short position with a target of 1.2700.
On the other hand, a bearish violation of the horizontal support level would indicate a strong continuation of the bearish trend.
To consider shorting the pair, look for an ascending triangle pattern on a 4-hour timeframe.
A confirmation signal would be a breakout above the horizontal neckline, specifically a 4-hour candle closing above 1.2616.
If this occurs, consider aggressively shorting the market or waiting for a retest before entering a short position with a target of 1.2700.
On the other hand, a bearish violation of the horizontal support level would indicate a strong continuation of the bearish trend.
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