GBPUSD: Key Level, Reversal Signs & Candles

10. Juli 2020

hey guys,

GBPUSD reached a key daily structure yesterday.
the price has formed a perfect dodji candle on that and on 4H we see a strong bearish reaction with a bearish engulfing candle.

the last resort for buyers is the support of the rising wedge pattern on 4H.
in case of its bearish violation, the price may drop even lower.
our trigger is 4H candle close below the wedge.

target levels:
1.252
1.246

if the above-mentioned support is respected and the market sets new higher high higher close within the wedge,
setups will be invalid.