GBP/USD is near the selling levels

GBP/USD is near the selling levels

Recommendation:

SELL 1.3975

SL 1.4030

TP1 1.3875 TP2 1.384 TP3 1.3795

On the daily chart, GBP/USD bulls are ready to make another attempt to test the upper border of the downtrend channel. If the pair managed to break above this line, an inverted “Shark” pattern with target at 88.6% will be triggered. On the other hand, a pullback will return the initiative to bears.

GBP1.png 

On H1, GBP/USD is fighting for 1.39. The inability of bulls to move above this level will point at their weakness. The risks of decline to 88.6% of the “Bat” will increase.

GBP2.png

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AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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