GBPUSD Bearish Setup – Rejection at Key Resistance (6H Chart)
🧨 
GBPUSD Bearish Setup – Rejection at Key Resistance (6H Chart)
GBPUSD is showing signs of exhaustion near the 1.36000 resistance zone. A lower high and bearish engulfing candle suggest sellers are stepping in.
🔹 Trade Setup:
Sell Entry: 1.35050
Stop Loss: 1.36000
Take Profit 1: 1.34000
Take Profit 2: 1.33100
Take Profit 3: 1.31500
Risk-reward is favorable, especially if price breaks below 1.33500 with momentum. Watch for confirmation on lower timeframes.
📌 Scaling out at TP1/TP2 is advised. Invalidate the setup if price closes above 1.36000 with strength.
#GBPUSD #ForexTrading #PriceAction #FXSetup #BearishReversal #TradingView #TechnicalAnalysis #SwingTrade #6HChart #ForexStrategy
Psychology Always Matters:
GBPUSD Bearish Setup – Rejection at Key Resistance (6H Chart)GBPUSD is showing signs of exhaustion near the 1.36000 resistance zone. A lower high and bearish engulfing candle suggest sellers are stepping in.
🔹 Trade Setup:
Sell Entry: 1.35050
Stop Loss: 1.36000
Take Profit 1: 1.34000
Take Profit 2: 1.33100
Take Profit 3: 1.31500
Risk-reward is favorable, especially if price breaks below 1.33500 with momentum. Watch for confirmation on lower timeframes.
📌 Scaling out at TP1/TP2 is advised. Invalidate the setup if price closes above 1.36000 with strength.
#GBPUSD #ForexTrading #PriceAction #FXSetup #BearishReversal #TradingView #TechnicalAnalysis #SwingTrade #6HChart #ForexStrategy
Psychology Always Matters:
Trade active
TP1 hit, lock in some profit.
🌟MJTrading | Private account manager and forex trader;
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Disclaimer
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🌟MJTrading | Private account manager and forex trader;
🌱 Join me to grow together👇:
▶️🔴 Youtube: youtube.com/@MJTradingYT
✈️🔵 Telegram: t.me/MJTradingTG
🌱 Join me to grow together👇:
▶️🔴 Youtube: youtube.com/@MJTradingYT
✈️🔵 Telegram: t.me/MJTradingTG
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.