Long

GBPUSD-Weekly Market Analysis-Nov21,Wk3

On the Daily Chart, GBPUSD has finally broken and closed below the support level and has been deemed Double Bottom, Mission Impossible. A key resistance level at 1.3428 works on all 3 major timeframes, namely the daily, the 4-hourly and the 1hourly chart.

You can wait for a double top setup on the 1-hourly chart the engage for a shorting opportunity.

If you are looking for a counter-trend trade, the ABCD pattern that forms at 1.3314 and if it happens to touch the bottom of the Bearish Parallel Channel would give you an advantage to long.

RaynLim

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RaynLim

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