GBP/USD upcoming possibilities
I will not enter any current trades on this pair but below is my TA
4hr: key levels of interest: 1.30592 current level, 1.29390 area of interest of short, 1.31602 area of key resistance if trend continues bullish
daily: the latest trend has been bearish, with a large drop from 1.33026 to 1.29295 and rsi was clearly overbought and contradicting what i just said but the trend since august has been bullish
weekly: possible large H&S forming with shoulder 1 at 1.298 and the peak at 1.348, the latest weekly trends have been bullish but a retracement to 1.293 is possible but I am not thinking there will be a H&S formed
Monthly: trend is bearish and we are close to resistance on my downward trend line also supporting my idea of entering a short once head and shoulders is confirmed
4hr: key levels of interest: 1.30592 current level, 1.29390 area of interest of short, 1.31602 area of key resistance if trend continues bullish
daily: the latest trend has been bearish, with a large drop from 1.33026 to 1.29295 and rsi was clearly overbought and contradicting what i just said but the trend since august has been bullish
weekly: possible large H&S forming with shoulder 1 at 1.298 and the peak at 1.348, the latest weekly trends have been bullish but a retracement to 1.293 is possible but I am not thinking there will be a H&S formed
Monthly: trend is bearish and we are close to resistance on my downward trend line also supporting my idea of entering a short once head and shoulders is confirmed
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