GBPUSD - 4H CHART ANALYSIS

Hi Guys,

Earlier On Today I Did A 1H Chart Analysis On Gbpusd. After Letting The Market Move I Have Reassessed The Pair And Am Bringing You Guys My Update.

As We Can See From Earlier We Have Gbpusd Trading Within In A Channel With Support Around 1.40860 And Resistance Around 1.41495, With This In Mind I Am Waiting On A Bearish Push To The Support Level To Look For An Entry.

If We Get A Pullback Towards The Support Area As Always Wait For Confirmation Of A Reversal To The Upside.

-Look Out For A Potential Rsi Movement To Below The 3O Region To Show Oversold Conditions.
- Also Look For A Pivot Candle Such As A Hammer, Inverted Hammer Or A Bullish Engulf.

If We Get A Touch Into The Support Area And Have Good Confirmation Of A Reversal To The Upside I Would Look To Place My Stop And Take Profit At The Below Levels.

- Sl: 1.47570
- Tp1: 1.41580
- Tp2: 1.41866

Any Likes And Comment Would Be Appreciated.

DWFX