GBPUSD - Pullback before Trend Change

15 gen 2022

*** Trade at your own risk! ***
*** Not every idea is also traded by us ***



Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and and a few bullet points.



Monthly TF:



- Monthly Consolidation
- Market bounces between those three Levels: 1.23, 1.32 and 1.42


Weekly TF:



- Lastly, after the price reached the top monthly Level, it bounced back from the middle monthly Level.

- Now it is at the weekly Resistance

- Broke out of the descending TL --> bullish power



Daily TF:


- On daily TF, we have a Downtrend with LHs and LLs

- Recently, the price made LH and starts fall

- The discount entry for bulls and the TP of bears is probably at the orange Area of Support
This Down-movement is very likely to happen in our view.

- After that, we have two possibilities:
1) The market moves up again and breaks its LH. It makes a HH and the Downtrend would be broken.
2) The market falls down lower and makes a new LL. The Downtrend would be continued then.

- But those possibilities come afterwards



H4-TF:


- As mentioned on the daily section, a down-movement is likely in our view

- The ascending H4-Trendline is one barrier, which could make it a bit difficult to move lower


H1-TF:


- On the hourly TF we see, that the Up-Trend has changed:

- We had HHs and HLs, but now we can recognize a LH and a LL

- Equally, the Break of Support could mean SLs for buyers and that's why they'll stop buying more potentially

- Also the MACD indicator shows us strong bearish Momentum





If you have any questions, another Point Of View or anything else, don't hesitate to share them!




Thanks and successful Trading!