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Topdown analysis for GBPUSD 2nd of October, 2023: On the daily timeframe we have a downtrend formation after the head and shoulder reversal pattern, and now briefly bouncing off the 1.2088 support, we have a trendline rejection on the 4hr timeframe amd 1.2270 resistance rejection on the 1hr timeframe. A clearer view of the market structure on 15m timeframe shows 3 BREAKS OF STRUCTURES and that is a strong signal for SWING HIGH! But at which OB? Follow me for more private ideas on top down analysis and day-trading entries on smaller timeframes. Peace!
Topdown analysis for GBPUSD 2nd of October, 2023: On the daily timeframe we have a downtrend formation after the head and shoulder reversal pattern, and now briefly bouncing off the 1.2088 support, we have a trendline rejection on the 4hr timeframe amd 1.2270 resistance rejection on the 1hr timeframe. A clearer view of the market structure on 15m timeframe shows 3 BREAKS OF STRUCTURES and that is a strong signal for SWING HIGH! But at which OB? Follow me for more private ideas on top down analysis and day-trading entries on smaller timeframes. Peace!