GBPUSD 4H Long
British Pound/U.S. Dollar FX:GBPUSD
GBPUSD 4H Long. Using my trend lines drawn from the Daily chart (forming a nice wedge pattern), we can see that price is currently touching the lower trend line . There is also a strong bullish candle which i would use as our buy signal. Overall, I would say this trend is currently in a downtrend, due to the 200EMA being above the current trend, and due to the current levels where price is. However for scalpers this could be a nice long entry, where I would set the TP to be at the top of the horizontal current resistance line.