Strong bearish bearish wave (A) occurred after breaking key level at 1.2852
then corrective bullish wave (B) retested key level and rejected by strong bearish engulfing pattern
Price is below SMA 100
Pair is below HVN at level 1.2930 which indicates that gbpusd is in distribution phase
MACD shows weakness in bullish momentum
It's expected for coming strong bearish wave (C) to target level 1.2500
then corrective bullish wave (B) retested key level and rejected by strong bearish engulfing pattern
Price is below SMA 100
Pair is below HVN at level 1.2930 which indicates that gbpusd is in distribution phase
MACD shows weakness in bullish momentum
It's expected for coming strong bearish wave (C) to target level 1.2500
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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.