GBPUSD has recently bounced off the Monthly S1 Pivot and is testing Monthly Pivot at 1.22.
Price is in a Downtrend , and has been for over a year.
The next week is particularly interesting as Price abuts 4 structures of Resistance
= Kumo Senkou Span A
= 50 EMA
= Monthly Pivot Point
= Major Structural Resistance
It is likely also the RSI goes into the oversold zone.
A long term consideration for a short is on chart.....
Price is in a Downtrend , and has been for over a year.
The next week is particularly interesting as Price abuts 4 structures of Resistance
= Kumo Senkou Span A
= 50 EMA
= Monthly Pivot Point
= Major Structural Resistance
It is likely also the RSI goes into the oversold zone.
A long term consideration for a short is on chart.....