GBPUSD: Reversal Pattern on Weekly Chart.... caution!
Updated
Hi everyone!
From a technical point of view, the trend is bullish on daily and intraday charts, but at the same time, on the weekly chart, trend is still bearish. Having said that, at the moment, a reversal (bearish) pattern has formed, and as long as GBPUSD fails to trigger a new Top, a bearish consolidation is possible in short-medium term. This pattern will weaken on a weekly close above 1.2264.
...trade with care! 👍
If you think that my analysis is useful, please...
"Like, Share and Comment" ...thank you! 💖
Cheers!
PS: I will post my Target later....
From a technical point of view, the trend is bullish on daily and intraday charts, but at the same time, on the weekly chart, trend is still bearish. Having said that, at the moment, a reversal (bearish) pattern has formed, and as long as GBPUSD fails to trigger a new Top, a bearish consolidation is possible in short-medium term. This pattern will weaken on a weekly close above 1.2264.
...trade with care! 👍
If you think that my analysis is useful, please...
"Like, Share and Comment" ...thank you! 💖
Cheers!
PS: I will post my Target later....
Note
...I will use the technical bounce in play on intraday chart to try a short position taking.Note
Note
Note
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