This is GBPUSD 4hr ChartThis is GBPUSD 4HR analysis
Price has broken an descending Trendline and is currently retesting prior resistance in hopes to create a new support.
For a BUY I will be waiting for a couple of 4hr candles to form in the bottom green circle and wait till we get a couple of bullish 4hr candles and also watching how price reacts on the 1 HR timeframe around the 1.3000 area.
For a SELL price needs to TANK through that bottom green circle. Then i will wait for the retest of resistance for a safe sell.
Price has broken an descending Trendline and is currently retesting prior resistance in hopes to create a new support.
For a BUY I will be waiting for a couple of 4hr candles to form in the bottom green circle and wait till we get a couple of bullish 4hr candles and also watching how price reacts on the 1 HR timeframe around the 1.3000 area.
For a SELL price needs to TANK through that bottom green circle. Then i will wait for the retest of resistance for a safe sell.