Series of bearish engulfing candles showing up indicating strong bearish move is coming up, daily uptrend support has been broken (refer to related ideas) correction and retest of the resistance(past up trend support) must happen before continuing bearish movement.
1.3990 support will be major signal for break or bounce. in the short term i see GBPUSD will go down to 1.3990. but there is strong resistance at 1.4211 which the price might go up steadily then go down. (as seen on daily chart)
Fibonacci confirms that 50% resistance area is holding its ground and rejecting the price to go up. It's been rejected 3 times. Clearly telling us to sell. but i will wait for the up channel support to break to go short. buyers and sellers are fighting at 50% Fibonacci level. but sellers are dominating by breaking the 61.8% level.
(daily analysis in related ideas)
1.3990 support will be major signal for break or bounce. in the short term i see GBPUSD will go down to 1.3990. but there is strong resistance at 1.4211 which the price might go up steadily then go down. (as seen on daily chart)
Fibonacci confirms that 50% resistance area is holding its ground and rejecting the price to go up. It's been rejected 3 times. Clearly telling us to sell. but i will wait for the up channel support to break to go short. buyers and sellers are fighting at 50% Fibonacci level. but sellers are dominating by breaking the 61.8% level.
(daily analysis in related ideas)
