Hello and welcome back traders🙂.
GBPUSD is currently trading in a descending wedge pattern.
It is currently making lower highs and lower lows and should continue this trend until hit hits the major trendline or breaks out of the descending wedge pattern.
A good entry point on a short term short trade would be at the 1.38659 support turned resistance line.
This is a riskier trade as we don't know the exact position this pair while decided to break the pattern. So please remember to always use appropriate risk management.
Good luck trader's and may this week be profitable for you all. 🙂
If you found value in my analysis dont forget to hit the like, it's much appreciated.
GBPUSD is currently trading in a descending wedge pattern.
It is currently making lower highs and lower lows and should continue this trend until hit hits the major trendline or breaks out of the descending wedge pattern.
A good entry point on a short term short trade would be at the 1.38659 support turned resistance line.
This is a riskier trade as we don't know the exact position this pair while decided to break the pattern. So please remember to always use appropriate risk management.
Good luck trader's and may this week be profitable for you all. 🙂
If you found value in my analysis dont forget to hit the like, it's much appreciated.