A possible short setup has presented itself on GBP/USD.
We have a strong bearish engulfing candle just as DXY begins to pick up some temporary momentum.
On the weekly chart, we see a cup and handle pattern forming, which this could indicate the beginning of the "handle" which would show some downward movement.
We have a strong bearish engulfing candle just as DXY begins to pick up some temporary momentum.
On the weekly chart, we see a cup and handle pattern forming, which this could indicate the beginning of the "handle" which would show some downward movement.
Trade closed: target reached