The GBP/USD 4H chart had strong bearish momentum until it hit the 1.56000 level and prices respected this area. Prices stalled and stayed within the blue box on the chart until prices finally broke the support zone at 1.56000. Now that prices have broke through the support zone we can assume that the bearish momentum is going to keep pushing the prices lower.
The trade opportunity comes if prices retrace to the broken support turned resistance zone(1.5600 level) and print a bearish price action trade setup.
I will be watching this chart closely to see if a trade setup is produced.
The trade opportunity comes if prices retrace to the broken support turned resistance zone(1.5600 level) and print a bearish price action trade setup.
I will be watching this chart closely to see if a trade setup is produced.