Possible next leg down on GBPUSD

24 feb 2023

We've still not seen a clear break of this falling wedge today and it's still in a strong downtrend. It's rather choppy this morning which is most likely smart money hunting and taking out our stops. If we see a strong close above this falling wedge, then this trade is invalid. I've plotted two TP's based on previous lows. Just be aware of the data coming out of the US later this afternoon which will most likely have some short-term impact.

TP 1 19899
TP2 19157

24 feb 2023

Nota

I've been calling it falling wedge lol, been looking at other charters. This is more like descending channel

24 feb 2023

Trade attivo

TP 1 Hit

24 feb 2023

Trade attivo

Reaching previous support of 1,19660

24 feb 2023

Trade attivo

Wow, it really did push today. When it reaches the TP2 area, it would be a good entry for a long position. 1.19748 TP possible on that.