Following on from the EURUSD posted; GBPUSD has a more ready to go shorting entry right now on the 1HR timeframe.
1) At resistance of the down channel; while just completing a bearish Head and Shoulders from Friday.
2) RSI was in oversold territory on Friday and price never hit the overbought green line; signalling a bearish move to come.
3) Bearish engulfing candle has formed; this gives me more reason to enter right now.
Fundamental sentiment is bearish given the BOE's forecast from last week with high inflation predicted at 13.3% in UK and a likelihood of several negative GDP quarters signalling a recession is highly likely in the UK.
Stops are just above 618 level.
Target price is lower wick of Friday.
1) At resistance of the down channel; while just completing a bearish Head and Shoulders from Friday.
2) RSI was in oversold territory on Friday and price never hit the overbought green line; signalling a bearish move to come.
3) Bearish engulfing candle has formed; this gives me more reason to enter right now.
Fundamental sentiment is bearish given the BOE's forecast from last week with high inflation predicted at 13.3% in UK and a likelihood of several negative GDP quarters signalling a recession is highly likely in the UK.
Stops are just above 618 level.
Target price is lower wick of Friday.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.