GBPUSD Looking for the next move down
Updated
Hi everyone:
GBPUSD is once again shaping up for a potential drop from the top.
Higher time frame, we see price is at a potential double tops area now.
Zooming into the lower time frame, price has been correctively moving up in this ascending type of channel structure.
Latest price action had a bearish impulse down, breaking out of the channel.
As always, look for the small correctional structure to form and enter would be the ideal entry, down to the lows of the larger parallel structure.
We can then see if price has momentum to breakout and continue the USD strength.
Thank you
GBPUSD is once again shaping up for a potential drop from the top.
Higher time frame, we see price is at a potential double tops area now.
Zooming into the lower time frame, price has been correctively moving up in this ascending type of channel structure.
Latest price action had a bearish impulse down, breaking out of the channel.
As always, look for the small correctional structure to form and enter would be the ideal entry, down to the lows of the larger parallel structure.
We can then see if price has momentum to breakout and continue the USD strength.
Thank you
Note
Note
Price impulse down aggressively, look for additional corrections to enter for more sell.
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