GBPUSD H1 – Structure-Based Move | Channel Breakdown & Continuation Setup
Price initially respected a well-defined ascending channel, showing clean bullish structure with higher highs and higher lows. The impulsive move into the premium zone led to exhaustion, followed by a sharp bearish displacement breaking the channel structure.
After the breakdown, price entered a corrective phase, forming a minor bullish channel within the larger bearish context. This indicates a potential retracement rather than a full trend reversal.
Key levels in play:
1.3205 (Predator Zone): Reaction area where sellers may re-enter the market
1.3179: Strong support – if broken, confirms bearish continuation
1.3280 (Take Profit zone): Target for short-term bullish retracement
Bias:
Short-term: Bullish retracement within a bearish structure
Mid-term: Bearish continuation expected after pullback completion
Plan:
Looking for price to complete the retracement into resistance/premium before continuation to the downside. Clean structure and patience remain key.
Reminder:
Patience | Discipline | Fearless | Confidence
Take profits based on structure, not emotion.