GBPUSD DAILY SHORT POSITION

Price has bounced off the monthly trendline and major levels of resistance forming a bearish engulfing. Momentum to the downside with breaks below 1.440 suggesting possibly further price action to the downside confirmed by the moving averages.

Commentaire:

Looks like a double top is starting to format a previous critical level.

Price not reaching new highs so still remains bearish.

Along with breakout/ retest of monthly trend line.

Looking to short at level of interest.

Transaction en cours:

Looking to benefit from the momentum of the bearish engulfing to targets set 10 days ago. Market conditions are appropriate to enter due to the second bounce off of the monthly resistance and trend line.

This forming a double top and a potential reversal.