GBPUSD - Bearish Soon...

22. Aug.

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 As per my last analysis, GBPUSD rejected the lower bound of the medium-term trendline and traded higher.

What's next?

GBPUSD is currently hovering around the upper bound of the green and orange channels.

Moreover, it is retesting a weekly major high marked in blue.

🏹 Thus, the highlighted green circle is a strong area to look for sell setups as it is the intersection of the trendlines and major high.

📚 As per my trading style:
As #GBPUSD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich