Monthly Chart : Prevailing macro sallow bearish channel in play.
Weekly Chart : Breakout of weekly bullish channel in the corrective phase of the market structure.
Daily Chart : Double top intermediate pattern formation within the bearish channel.
4H Chart : Asymmetric expanding mini triangle pattern, with impulse breakout of 1H chart bullish...
Macro view perspective of this pair has bullish sentiment to it, the namable pattern in play mean while as we dive below monthly chart we found a key support zone 1.64000 of which is a base support zone which initiate a reversal of the prevailing bearish sentiment within daily channel to the down site.
currently we do have the 4h chart bullish flag of which is...
The IG trader sentiment indicate the establishment of a net long positions, of which is a bearish signal in terms of contrarian perspective. This signal is supported by price action technical analysis view based on daily and 4hour chart market analysis.
Shiba it is has been testing a very strong support zone after a first leg move which was completed currently with good supporting fundamentals news with regard to this crypto which are good the anticipated move will unfold.
GBPUSD has managed to break out of long time, developed channel to the down site which its structure started in June 2021 until December 2021. The macro reversal trend pattern for up trend was not clear established, other than a breakout of this channel and retest it.
The second retest is in play over the downward trendline (red) on weekly chart which is currently being tested, as support for the prominent gadering momentum for anticipated uptrend moves since red trend line as been broken.
no much fundamental with high impact news, this short move of about to 60 pips is imminent to the 4 hour downtrend line as a target. from their we would expect a bounce off it for the downtrend for continuation of prevailing high time frame momentum for this short retracement move of this pair.
