GBPUSD: Sell opportunity within a Channel Down.
The pair has been trading inside a 1D Channel Down (RSI = 50.947, MACD = -0.002, ADX = 19.228, Highs/Lows = 0.0000). The neutral technical action indicates that it is on/ near its Lower High trend line and as seen on the chart that is very much the case.
The pattern resembles the March/ May 2019 sequence (on the MACD as well). We are expecting a similar behavior and as the current price action hit the 1D MA50 (blue line), a rejection towards the 1.2770 Symmetrical Support.
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The pattern resembles the March/ May 2019 sequence (on the MACD as well). We are expecting a similar behavior and as the current price action hit the 1D MA50 (blue line), a rejection towards the 1.2770 Symmetrical Support.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial