Hey Traders!
GBPUSD is currently on a huge pullback on the monthly timeframe, developing a bearish engulfing candlestick.
Currently rejecting the 50 moving average on the weekly.
Attempting to break the daily up-trend, although the lower period moving averages already have been broken.
A closure will confirm the trade to go lower, however 100-200 moving averages are nearby so I expect some bullish pressure once touched before the eventual break of support.
We can also see the double top structure, formed a M pattern if the neckline is broken we will for sure see bearish momentum increase.
GBPUSD is currently on a huge pullback on the monthly timeframe, developing a bearish engulfing candlestick.
Currently rejecting the 50 moving average on the weekly.
Attempting to break the daily up-trend, although the lower period moving averages already have been broken.
A closure will confirm the trade to go lower, however 100-200 moving averages are nearby so I expect some bullish pressure once touched before the eventual break of support.
We can also see the double top structure, formed a M pattern if the neckline is broken we will for sure see bearish momentum increase.
Telegram ⏩ t.me/freettrsignals
YouTube ⏩ linktw.in/ueTGhN
YouTube ⏩ linktw.in/ueTGhN
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram ⏩ t.me/freettrsignals
YouTube ⏩ linktw.in/ueTGhN
YouTube ⏩ linktw.in/ueTGhN
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.