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GBPUSD

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TF: 4 HR

Looking for a retest of the levels shown, if it confirms I may look to short. These levels align between the 0.5 and 0.618 levels and around the broken trend. Some other confirmation is the RSI showing some bearish divergence over the corrective price action from the large downward/COVID movement a few months ago.

Be cautious of price ripping back into the trend like some of the AUD and NZD pairs did last week.

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Price has not come up yet, it may not move higher. I will have to see how this plays out over the next few days

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Has not quite hit the entry yet. May not enter depending on how price action plays out if the retests above the small zone around 1.2290 holds and how it moves from there

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Nice wick into the entry

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I got out of this for a small profit earlier before the weekend close. Price looks like it may trade higher

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Price looks really bullish with these last candles. Im am seeing how price reacts around this trend line. If it rejects and holds then I am considering going short again. If it breaks and holds above then I may long it.

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