GBP/USD Channel Fakeout?
🔸DAILY CHART ANALYSIS:
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🔸Price has broken the Ascending Channel.
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🔸We observe that just below the Ascending Trendline of the channel, there was a Major Support Zone. We were waiting for a break of this zone to the downside before considering a short trade on this pair.
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🔸It did not happen, instead, price is inside the Ascending Channel again after boucing at the Zone. In case the previous lower high is broken (it can be appreciated on a lower timeframe), we will consider that the bullish scenario is active.
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🔸 Will look for a lower timeframe bullish setup.
🔸4H CHART EXPLANATION:
.
.
🔸Price has broken the Ascending Channel.
.
🔸We observe that just below the Ascending Trendline of the channel, there was a Major Support Zone. We were waiting for a break of this zone to the downside before considering a short trade on this pair.
.
🔸It did not happen, instead, price is inside the Ascending Channel again after boucing at the Zone. In case the previous lower high is broken (it can be appreciated on a lower timeframe), we will consider that the bullish scenario is active.
.
🔸 Will look for a lower timeframe bullish setup.
🔸4H CHART EXPLANATION:
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