GBPUSD $GBPUSD | 4H BREAKDOWN OR BREAKOUT? - Apr. 17th, 2024GBPUSD FX:GBPUSD | 4H BREAKDOWN OR BREAKOUT? - Apr. 17th, 2024
BUY/LONG ZONE (GREEN): 1.25350 - 1.26215
Can be extended to: 1.24820 - 1.26215
DO NOT TRADE/DNT ZONE (WHITE): 1.24260 - 1.25350
Can be reduced to: 1.24260 - 1.24820
SELL/SHORT ZONE (RED): 1.23000 - 1.24260
Weekly: Bearish
Daily: Bearish
4H: Bearish
FX:GBPUSD fell through the bottom of the previous bearish zone so I've decided to create a new chart. The 4H is currently developing a range, bulls should be looking for breakouts above the top levels of either 1.24820 or 1.25350, bears should be looking for breakdowns below the bottom level of 1.24260. TradingView is not allowing me to publish properly with multiple timeframes so I attached a small image of the weekly and daily timeframe views. The image is anchored and cannot be resized but it gives a small visual of what I was looking at.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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