On the daily chart, we can see that the price for GBPUSD has made
a strong bull run last week and has reached a strong resistance zone.
The shooting star candle closed on Friday
indicates that there is strong selling pressure at this level.
Despite the bias for this coming week is to the downside,
we do not want to jump straight into the trade to SHORT it.
We want to see a clean set up:
the price breaking down the trendline and pulls back
to form a continuation pattern would be ideal!
a strong bull run last week and has reached a strong resistance zone.
The shooting star candle closed on Friday
indicates that there is strong selling pressure at this level.
Despite the bias for this coming week is to the downside,
we do not want to jump straight into the trade to SHORT it.
We want to see a clean set up:
the price breaking down the trendline and pulls back
to form a continuation pattern would be ideal!