Hey, I am back with another Technical Analysis
This time looking at Forex trading pair GBP/USD.
GBP has seen sharp move up, tested 1.27 but failed, fall a bit, formed uptrend and went for test of 1.275 which has failed, twice.
Retested uptrend but failed to hold, lower uptrend was formed and this was unable to break into previous uptrend, by making a pinbar and breaking lower uptrend.
RSI on 30 min timeframe failed to break through 60, 30 min macd started selling wave pretty high.
I am shorting this setup, waiting for market to open.
Thats all for me for now, if you like this Technical analysis with a setup, let me know by hitting that Agree Button for more frequent setups.
This time looking at Forex trading pair GBP/USD.
GBP has seen sharp move up, tested 1.27 but failed, fall a bit, formed uptrend and went for test of 1.275 which has failed, twice.
Retested uptrend but failed to hold, lower uptrend was formed and this was unable to break into previous uptrend, by making a pinbar and breaking lower uptrend.
RSI on 30 min timeframe failed to break through 60, 30 min macd started selling wave pretty high.
I am shorting this setup, waiting for market to open.
Thats all for me for now, if you like this Technical analysis with a setup, let me know by hitting that Agree Button for more frequent setups.
Comment:
I always have plan B. The price was moving as I predicted slow downtrend with a stronger price action sooner, BUT some strong buying Volume has unexpectedly come.. I dont trust this Volume and still think GBPUSD is a good short as it reached the of the channel.
Comment:
Waiting for a signal...