GBPUSD Chart Analysis - 8-22-2020
GBPUSD CHART: DAILY NOTES:
* DAILY:
- Price has had a 100% retracement.
It has trended bullish since March 24, 2020.
- (Question): Who controls price movement?
- Currently consolidating at a pocket of Demand.
* INDICATOR(S): Stoch: Nearing Oversold
* PATTERN(S): Rising Wedge, Ascending Channel
(GBPUSD) CHART: 4HR NOTES:
* 4HR:
- Price is consolidating at the neckline.
* INDICATOR(S): Stoch: Nearing Oversold
* PATTERN(S): Double Top (Reversal Pattern)
(GBPUSD) CHART: 1HR NOTES:
* 1HR:
- Price is consolidating at demand zone.
* INDICATOR(S): Stoch: Nearing Oversold
* PATTERN(S): Double Top
KEY EVENT: Election November 3, 2020
* DAILY:
- Price has had a 100% retracement.
It has trended bullish since March 24, 2020.
- (Question): Who controls price movement?
- Currently consolidating at a pocket of Demand.
* INDICATOR(S): Stoch: Nearing Oversold
* PATTERN(S): Rising Wedge, Ascending Channel
(GBPUSD) CHART: 4HR NOTES:
* 4HR:
- Price is consolidating at the neckline.
* INDICATOR(S): Stoch: Nearing Oversold
* PATTERN(S): Double Top (Reversal Pattern)
(GBPUSD) CHART: 1HR NOTES:
* 1HR:
- Price is consolidating at demand zone.
* INDICATOR(S): Stoch: Nearing Oversold
* PATTERN(S): Double Top
KEY EVENT: Election November 3, 2020
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