GBPUSD: Technical Outlook & Trading Plan
GBPUSD is trading within a rising wedge pattern on 4H.
From the 20th of January, the price is stuck within a horizontal decision range.
This formation signifies local buyers' exhaustion.
I am waiting for a breakout of its support to short the pair.
That breakout will match with a wedge's support violation and will most likely lead to a bearish continuation.
First goal will be 1.355
In case of a bullish breakout of the range, setup will be invalid.
Note
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Related publications
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.