Hello..
Price has not been able to close below 1.26 despite of strong impulsive move towards downside resulting in a Pin Bar candle formation at strong support area, which suggest that price may move higher ,
Currently gbpusd is trading in descending channel , aggressive long entries can be taken now with stops in close below 1.26 level , whereas traders can also wait for price to break away channel and retest support.
Our target is test of descending trendline in Green for now,
Trade becomes invalid on 4HR candle close below 1.26 level..
Price has not been able to close below 1.26 despite of strong impulsive move towards downside resulting in a Pin Bar candle formation at strong support area, which suggest that price may move higher ,
Currently gbpusd is trading in descending channel , aggressive long entries can be taken now with stops in close below 1.26 level , whereas traders can also wait for price to break away channel and retest support.
Our target is test of descending trendline in Green for now,
Trade becomes invalid on 4HR candle close below 1.26 level..