GBP-USD SHORT INITIAL BREAKOUT
Weekly chart: the weekly chart has hit a good resistance level and a supply zone. though it still a bullish market but i believe it reached a good time to breath before continuing its move.
Daily chart: daily chart shows a double top reching back to march 2020. after 2 weeks of strong bullish move the market is ready to breath.. my first safe target would be the daily 20ema. and might stretch it towards the daily 50 ema if i see the market in a strong bearish reaction.
4h chart: perfect double top and bearish move. i would wait for the break of the 50ema and the trend line to initiate an entry
Daily chart: daily chart shows a double top reching back to march 2020. after 2 weeks of strong bullish move the market is ready to breath.. my first safe target would be the daily 20ema. and might stretch it towards the daily 50 ema if i see the market in a strong bearish reaction.
4h chart: perfect double top and bearish move. i would wait for the break of the 50ema and the trend line to initiate an entry
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