GBPUSD Idea for the week
Price has recently tested the long term bearish trendline and has also tested the 61.8% Fib level.
I will be looking to go short on a combination of 3 or more of these confluences:
If price fails to go lower and breaks + retested long-term trendline, it could be retracing towards this previous high
Previous Analysis on GBPUSD
https://www.tradingview.com/chart/GBPUSD/0aamrOPM-GBPUSD-October-Outlook/
I will be looking to go short on a combination of 3 or more of these confluences:
- Break and retest of level 1.36000
- Break and retest of Bullish Push Line
- Bearish Structure
- Bearish Candlestick Pattern
- Moving Average Crossover
- Strength on the DXY
https://www.tradingview.com/chart/DXY/JU8uyHo3-USD-Strength-DXY-Forecast-Pt-2/
If price fails to go lower and breaks + retested long-term trendline, it could be retracing towards this previous high
Previous Analysis on GBPUSD
https://www.tradingview.com/chart/GBPUSD/0aamrOPM-GBPUSD-October-Outlook/
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