Bearish (SHORT) GBPUSD
Updated
-DXY (US Dollar) is overall bullish, so I will be looking to buy/go long US pairs.
-GU is in an overall downtrend and after some bearish pressure, expecting price to make a retracement.
-Price formed a double top and broke below the neckline, ultimately creating a lower low.
-I am expecting price to make a retracement and potentially stop hunt and test the 50.0-61.8 fib level, confirming the break of structure/testing the neckline of the double top.
Please Like, Follow, Comment. What is your analysis?
-GU is in an overall downtrend and after some bearish pressure, expecting price to make a retracement.
-Price formed a double top and broke below the neckline, ultimately creating a lower low.
-I am expecting price to make a retracement and potentially stop hunt and test the 50.0-61.8 fib level, confirming the break of structure/testing the neckline of the double top.
Please Like, Follow, Comment. What is your analysis?
Note
Price Formed a Double bottom on the 4hr. Price is now making the bullish push as expected.
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