Wait for downtrend confirmation and sell signal with GBPUSD
H4 time frame.
Structure: The uptrend in the ascending channel was broken after the price moved to the 1.38900 resistance zone.
With a strong bearish move and no confirmation of the downtrend yet, it is advisable to wait for the price to clearly show a retracement confirming the trend.
The possibility that the price will retrace to the 1.38200 price zone may look for sell setups.
The profit target is the support at 1.37000.
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Wish you all have a good trading day!
Structure: The uptrend in the ascending channel was broken after the price moved to the 1.38900 resistance zone.
With a strong bearish move and no confirmation of the downtrend yet, it is advisable to wait for the price to clearly show a retracement confirming the trend.
The possibility that the price will retrace to the 1.38200 price zone may look for sell setups.
The profit target is the support at 1.37000.
-----------------------------------------------------------------------------------------------
Wish you all have a good trading day!
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