"GBP/USD Resistance Test with Potential Bearish Reversal Setup"
Based on the chart:
1. **Resistance Zone**: The price has reached a strong resistance level around 1.2400–1.2450. This area could act as a barrier for further upward movement.
2. **Trendline Support**: There’s a clear upward trendline acting as dynamic support, indicating a bullish structure overall.
3. **Bearish Confirmation**: The chart suggests waiting for bearish confirmation before entering a short position. Signs could include a reversal candlestick pattern, a breakdown of a lower timeframe support, or momentum shifting downward.
4. **Potential Move**: If bearish confirmation occurs, a retracement toward the trendline near 1.2200–1.2250 could be expected.
This setup favors patience, as entering without confirmation might expose trades to unnecessary risk if the resistance breaks.
1. **Resistance Zone**: The price has reached a strong resistance level around 1.2400–1.2450. This area could act as a barrier for further upward movement.
2. **Trendline Support**: There’s a clear upward trendline acting as dynamic support, indicating a bullish structure overall.
3. **Bearish Confirmation**: The chart suggests waiting for bearish confirmation before entering a short position. Signs could include a reversal candlestick pattern, a breakdown of a lower timeframe support, or momentum shifting downward.
4. **Potential Move**: If bearish confirmation occurs, a retracement toward the trendline near 1.2200–1.2250 could be expected.
This setup favors patience, as entering without confirmation might expose trades to unnecessary risk if the resistance breaks.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.