Possible GBPUSD Bearish Move

13 Feb 2022

Weekly TF we having a newly formed supply zone in confluence with trendline and pin bar candlestick rejection from the supply zone. Possible evening star forming for a possible strong move bearish. Lots of selling pressure from the supply zone. Daily TF showing multiple confluences with the weekly supply zone, daily resistance level with multiple strong rejections, a 71% fibonacci level, with price action breaking structure and producing a higher low and lower low. 12H TF had a bull stop hunt before multiple rejections from the supply zone. 12TF also formed some distribution in the area. 4H TF has multiple sharkfins at the top of the bollinger band, a large momentous bearish engulfing candle, with a daily resistance level. Signs pointing to a strong bearish move. Always a possibility we can do wick fills and go bullish. Just an analysis so trade at your own risk!!