BEARISH MOVE ON GBPUSD
Sold GBPUSD
Entry 1.2020
Sl 1.2180 (160 pips)
Tp 1.0685 (1335 pips)
Weekly resistance met +200 MA showing weakness to the bullish side on the daily TF.
Large institution is in a short position on the pair.
The UK economy is in a horrible position. By the looks of it, their major issues such as their energy prices and increased cost of living are being resolved, but in fact are getting worse with their energy prices reaching a new ATH. Until this is addressed properly, I see a continuation to the downside.
Entry 1.2020
Sl 1.2180 (160 pips)
Tp 1.0685 (1335 pips)
Weekly resistance met +200 MA showing weakness to the bullish side on the daily TF.
Large institution is in a short position on the pair.
The UK economy is in a horrible position. By the looks of it, their major issues such as their energy prices and increased cost of living are being resolved, but in fact are getting worse with their energy prices reaching a new ATH. Until this is addressed properly, I see a continuation to the downside.
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