GBP/USD: bulls showed weakness

GBP/USD: bulls showed weakness


SELL 1.3520

SL 1.3575

TP1 1.342 TP2 1.332

On the daily chart, the inability of bulls to get above resistance at 1.3520 and 1.3585 points at their weakness. As long as GBP/USD is trading below 1.3605, risks of consolidation are rising. If this level is breached, the possibility of the uptrend’s resumption will go up.


On H1, one may use rebound strategies. If the pair reaches 88.6% target of the “Bat” with the following recoil of the descending channel’s upper border, this will trigger “Three Indians” pattern and be a signal for selling.





Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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