GBPUSD Bearish
Hi All,
Initially, we saw a break of the monthly descending trendline. Once it broke the monthly descending trandline, it accelerated just above the monthly 50% Fib level and we are now seeing that this pair respects this strong area of resistance and Support and thus a bearish candle confirms that this pair is retracing at this level. I expect to see this pair retrace and retests the monthly descending blue trendline.
Also, this pair has respected the 4hr descending trendline which is another confirmation of this bearish setup.
Happy trading :)
https://www.tradingview.com/x/esGT6BbU/
Initially, we saw a break of the monthly descending trendline. Once it broke the monthly descending trandline, it accelerated just above the monthly 50% Fib level and we are now seeing that this pair respects this strong area of resistance and Support and thus a bearish candle confirms that this pair is retracing at this level. I expect to see this pair retrace and retests the monthly descending blue trendline.
Also, this pair has respected the 4hr descending trendline which is another confirmation of this bearish setup.
Happy trading :)
https://www.tradingview.com/x/esGT6BbU/
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.