GBPUSD is trading inside a strong downtrend marked by clear lower highs and a descending trendline. Price has broken below the previous support zone and is now retesting it as new resistance.
Market structure remains firmly bearish, with sellers controlling the channel. The setup suggests the potential for continued downside if this retest holds.
Trade Plan:
1.Watch for bearish rejection from the retest zone near the descending trendline.
2.Enter short only after a clear bearish candle confirms resistance.
3.Place stop-loss above the retest zone for controlled risk.
5.First target zone around 1.3250.
6.Second target zone near 1.2950 for extended move.
Key Notes:
Patience is key—wait for confirmation to avoid false breakouts.
Manage risk with well-defined stops and position sizing.
Setup aligns with smart money concepts: support becomes resistance in a downtrend.
Like, comment, share & follow for more premium trade ideas.
Market structure remains firmly bearish, with sellers controlling the channel. The setup suggests the potential for continued downside if this retest holds.
Trade Plan:
1.Watch for bearish rejection from the retest zone near the descending trendline.
2.Enter short only after a clear bearish candle confirms resistance.
3.Place stop-loss above the retest zone for controlled risk.
5.First target zone around 1.3250.
6.Second target zone near 1.2950 for extended move.
Key Notes:
Patience is key—wait for confirmation to avoid false breakouts.
Manage risk with well-defined stops and position sizing.
Setup aligns with smart money concepts: support becomes resistance in a downtrend.
Like, comment, share & follow for more premium trade ideas.
💲𝗙𝗢𝗥𝗘𝗫 < 𝗚𝗢𝗟𝗗 > ₿ 𝗕𝗧𝗖 || Real Trades, Real Results 🧿 || 🚨 VIP Signals {My Personal Entries} 🔗Join Telegram – Trade smarter
t.me/JosProTrader
t.me/JosProTrader
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.
💲𝗙𝗢𝗥𝗘𝗫 < 𝗚𝗢𝗟𝗗 > ₿ 𝗕𝗧𝗖 || Real Trades, Real Results 🧿 || 🚨 VIP Signals {My Personal Entries} 🔗Join Telegram – Trade smarter
t.me/JosProTrader
t.me/JosProTrader
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.