GBPUSD-Weekly Market Analysis-Jan21,Wk1

2 בינו׳ 2021

On both the 4-hourly chart and the daily chart I've observed a break and close above the previous high, what's interesting is that the new structure break looks weak, a situation like this has the potential to open up for a bigger drop.

For that I'm waiting for a break and close below the red line on the 1-hourly chart, preferably closing below the blue trendline to engage my trend reversal trade.