FX.co ★ zunaira7518 | GBP/USD

GBP USD ANALYSIS On four hour time frame

On the 4H, GBP USD dropped from 1.3504 to 1.3375 and bounced hard off that green support. Price reclaimed the blue 20 MA at 1.3434 and is now at 1.3447, right at the yellow resistance line 1.3447-1.3455. Upper Bollinger Band is at 1.3474, same as the red resistance we see on 15m. 4H close above 1.3474 opens 1.3504, rejection sends us back to 1.3434 and 1.3393. 15 minutes time frame

15m tells the short-term story. Price exploded up to tag the red line at 1.3473, wicked above it, then got sold straight back down. Now we’re at 1.3447, sitting on the blue 20 MA at 1.3462. That 20 MA is support right now. Below it is the green line at 1.3452, then the cyan support at 1.3410. Upper BB is at 1.3473, so 1.3473-1.3474 is double resistance. Price dropped from upper BB to mid-BB fast, which means momentum flipped bearish on 15m. Putting It Together 4H says resistance is 1.3447-1.3474. 15m says we just got rejected at 1.3473 and are pulling back to 1.3462 support. This is confluence – both time frames are watching the same zone. Bulls need a 15m close above 1.3473 that holds, then 4H close above 1.3474 to confirm. Bears want a 15m close below 1.3462, then 1.3452. Trading plan Don’t chase longs at 1.3447 after that rejection candle. Bearish setup Short the 15m retest of 1.3462-1.3473 if we get rejected again, stop above 1.3480, target 1.3452 and 1.3410. 4H close below 1.3434 confirms 1.3393. Bullish setup Wait for 15m close above 1.3473 + retest as support. That’s your long entry to 1.3504 with stop under 1.3452. 4H close above 1.3474 confirms the run. Key Point Support1.3462 15m 20 MA, 1.3452 15m, 1.3447 4H, 1.3434 4H 20 MA, 1.3410 15m, 1.3393 4H big support Resistance 1.3473-1.3474 red line on both TFs, then 1.3504 4H top Right now 15m momentum is bearish after the rejection. Until 1.3473 breaks and holds, I’m fading longs. You shorting 1.3473 or waiting for the breakout?