GBPUSD get up or get down? 🦐

GBPUSD on the 4h chart reached the lows of a long period downtrend.
On the weekly chart the main trend is surely bearish and the market is currently moving within 2 structure at the bottom level.

What the possible scenarios are?

Often Friday moves can be tricky and unexpected but we can see a break below the support for a new lows with the bears totally in control or a retracement to the upside above the minor resistance area.

Personally i will be waiting for the next week and clear direction in order to take a new position on this pair.


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Follow the Shrimp 🦐

Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.


Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.

Komen:

New low on GU

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a 150 pips call here

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huge drop here

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retrace at the 0.618 Fibonacci level

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test of the 0.618 and looking for a lower low

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possible retest of the 0.786

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new expectation