Hi,
I’m currently with a sell bias for gbp/usd. I got in last week however price has now reverted and took my stop out. I’m still with the bias however i felt i entered in too early. I’ve made some drawings on my chart. I’m working with daily highs and lows and have a question about the monthly highs and lows. My question is, if price disrespects and breaks through a monthly high or low to create a new resistance or support, could it possibly continue and go in that direction, after a retrace? Please see my charts 4hr first and 1hr second to have look what i mean.
4hr:
1hr:
