In today’s London session, we conducted a detailed intraday analysis on the GBPUSD currency pair using wave structure analysis on the 5-minute (M5) timeframe.
Price action confirmed a break below bullish market structure that had previously formed the Asian session high, signalling a potential shift in market sentiment to the downside. This breakdown confirmed short-term bearish momentum shift.
Following the completion of the bearish wave, the price retraced to form a structural pullback (trend reset), providing a discounted price zone for new short positions and offering profit-taking opportunities for earlier sellers.
Our trading plan for this session is to sell GBPUSD at 1.3488, anticipating a move below the midline (ML) support at 1.3462. The technical target for this trade, based on our London-New York session projection, is set at 1.3417.
The stop-loss for this setup is placed above MH of the bearish structure at 1.3505, maintaining proper risk management.
This trade idea aligns with our trend-following strategy and is supported by real-time price action analysis.
📉 Short Bias Confirmed
🎯 Entry: 1.3488
🛑 Stop Loss: 1.3505
✅ Take Profit: 1.3417
Trade safe, manage your risk, and stay blessed.
Price action confirmed a break below bullish market structure that had previously formed the Asian session high, signalling a potential shift in market sentiment to the downside. This breakdown confirmed short-term bearish momentum shift.
Following the completion of the bearish wave, the price retraced to form a structural pullback (trend reset), providing a discounted price zone for new short positions and offering profit-taking opportunities for earlier sellers.
Our trading plan for this session is to sell GBPUSD at 1.3488, anticipating a move below the midline (ML) support at 1.3462. The technical target for this trade, based on our London-New York session projection, is set at 1.3417.
The stop-loss for this setup is placed above MH of the bearish structure at 1.3505, maintaining proper risk management.
This trade idea aligns with our trend-following strategy and is supported by real-time price action analysis.
📉 Short Bias Confirmed
🎯 Entry: 1.3488
🛑 Stop Loss: 1.3505
✅ Take Profit: 1.3417
Trade safe, manage your risk, and stay blessed.
Trade active
BULLISH WAVESTRUCTURE COMPLETED. SHORT REVERSAL! THIS ENTRY IS BETTER ...Trade closed: target reached
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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.