British Pound / U.S. Dollar

Short

GBPUSD Intraday Idea

By thefuturesnetwork

Updated

We can short GBPUSD here as we are currently at an area of confluence; the top of a wedge, Weekly R1, 1.382 fib extension of the current bullish trend. Bearish divergence showing on the 4h TF.

Note

Note I only expect a short pullback here rather than full correction/trend reversal.

Note

Monitor price as we approach the support at 1.3860- look out for an ending diagonal ready to reverse long. I expect the uptrend to continue based on rising Gilt yields

thefuturesnetwork

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