GBPUSD, BEARISH Indications, Set-Up of Further Continuations!
Updated
Hello There!
Welcome to my new analysis about GBPUSD on several timeframe perspectives. Since GBPUSD gained over 25% since the lows seen in September 2022 a big factor now is if this established trend is holding on or GBPUSD reverses the dynamics with a trend change to the downside. Currently there are many bearish signs I have detected within the chart especially as GBPUSD recently increased bearish volatility this is pointing to a main continuation.
When looking at this whole formational structure GBPUSD is now about to complete this major decisive head-shoulder-formation with a breakout below the neckline. Once the formation has been completed it will activate target-zones at the 1.2 level. On the global perspective as I already pointed out the paramount formation forming here, GBPUSD has also this gigantic ascending-triangle with the upper resistances being the origin of the recent bearish wave.
With the fact that GBPUSD now completed this gigantic ascending-wedge formation here already faster than expected this also activated further target-zones within the 1.16 level as I show in my analysis. Currently the bearish cause is prevailing for GBPUSD and it will be important on how it actually continues with this more likely bearish dynamic especially with the consideration of approaching the target-zones. If the bearish momentum is that high that a reversal will not be possible in any case it is also likely to activate further continuations.
The fact that GBPUSD completed such an important formation here and because of the major shift in the overall dynamic we will keep having GBPUSD on the watchlist and re-evaluate the situation with the further important changes to setup in the next times. Currently GBPUSD already bounced below the EMA therefore we are considering the follow-up price-action to setup in the near future.
Thank you for watching my analysis. Support from your side is greatly appreciated.
VP
Welcome to my new analysis about GBPUSD on several timeframe perspectives. Since GBPUSD gained over 25% since the lows seen in September 2022 a big factor now is if this established trend is holding on or GBPUSD reverses the dynamics with a trend change to the downside. Currently there are many bearish signs I have detected within the chart especially as GBPUSD recently increased bearish volatility this is pointing to a main continuation.
When looking at this whole formational structure GBPUSD is now about to complete this major decisive head-shoulder-formation with a breakout below the neckline. Once the formation has been completed it will activate target-zones at the 1.2 level. On the global perspective as I already pointed out the paramount formation forming here, GBPUSD has also this gigantic ascending-triangle with the upper resistances being the origin of the recent bearish wave.
With the fact that GBPUSD now completed this gigantic ascending-wedge formation here already faster than expected this also activated further target-zones within the 1.16 level as I show in my analysis. Currently the bearish cause is prevailing for GBPUSD and it will be important on how it actually continues with this more likely bearish dynamic especially with the consideration of approaching the target-zones. If the bearish momentum is that high that a reversal will not be possible in any case it is also likely to activate further continuations.
The fact that GBPUSD completed such an important formation here and because of the major shift in the overall dynamic we will keep having GBPUSD on the watchlist and re-evaluate the situation with the further important changes to setup in the next times. Currently GBPUSD already bounced below the EMA therefore we are considering the follow-up price-action to setup in the near future.
Thank you for watching my analysis. Support from your side is greatly appreciated.
VP
Note
ANALYSIS UPDATE: GBPUSD is approaching the completion of the head-shoulder-formation in the next times.Once this emerged targets will be activated.
Note
ANALYSIS UPDATE: GBPUSD increased with massive bearish momentum forming a major bear market condition.GBPUSD since accelerating the bearish momentum and volume already reached the final target zones.
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