GBPUSD BEARISH IDEA
GBPUSD price attempting to break the weekly bearish flag possibly attempting to test previous weekly structure lows
Daily chart shows a possible divergence creating a thesis that a possible pullback is imminent that could test previous support turned resistance for possible bearish continuation set up
note:
The indicator you are seeing in the chart are bollinger bands with 200 sma that would show if price is over extended long term. this indicator is set to daily so that if you scroll down to lower time frame what you will see is the same indicator but set to daily. The RSI is the regular rsi with 100sma bollinger band for long term trend shifts in momentum.
4h or 1h chart would be the execution chart if I will see pull backs to fib levels using RSI midline and sma as confluence
Daily chart shows a possible divergence creating a thesis that a possible pullback is imminent that could test previous support turned resistance for possible bearish continuation set up
note:
The indicator you are seeing in the chart are bollinger bands with 200 sma that would show if price is over extended long term. this indicator is set to daily so that if you scroll down to lower time frame what you will see is the same indicator but set to daily. The RSI is the regular rsi with 100sma bollinger band for long term trend shifts in momentum.
4h or 1h chart would be the execution chart if I will see pull backs to fib levels using RSI midline and sma as confluence
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