2020-09-24 - GBPUSD Update
Updated
I've taken a step back on this pair. While I am bullish overall, the 
DXY has continued to gain strength. There is still room to move down and we appear to be forming either a bearish flag or neutral triangle. I'll be watching for a breakout direction and looking to enter on a lower timeframe.
My reasoning is that we could be forming a small ABC retracement on the higher timeframe which would lead to more downside.
DXY has continued to gain strength. There is still room to move down and we appear to be forming either a bearish flag or neutral triangle. I'll be watching for a breakout direction and looking to enter on a lower timeframe. My reasoning is that we could be forming a small ABC retracement on the higher timeframe which would lead to more downside.
Note
Looks like a break to the upside. I'm looking to go long on a retest if price action agrees.Note
It looks like a higher timeframe downtrend is still in effect.I took a few losses this week, but with proper risk management, I'm not hurting.
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