• Vasily Trader

GBPUSD: Technical Outlook & Trading Plan (Trading Plan)

⚠️GBPUSD is trading within a rising wedge pattern on 4H.

From the 20th of January, the price is stuck within a horizontal decision range.

This formation signifies local buyers' exhaustion.

I am waiting for a breakout of its support to short the pair.

That breakout will match with a wedge's support violation and will most likely lead to a bearish continuation.

First goal will be 1.355

In case of a bullish breakout of the range, setup will be invalid.