0705 GBPUSD keeping south for 1150 pips potential
Hello traders,
GBPUSD is still inside the downtrend channel on month chart. It cant break through the average middle ban on weekly chart too. So the big pic for it is totally bearish. And it would need to meet the lower band of BB first before making any strong reversal on weekly chart.
And on daily chart, it needs to break the bottom support level to make a new impulse leg down. Otherwise, it might make a triple top first.
Good luck on this pair.
LESS IS MORE!
GBPUSD is still inside the downtrend channel on month chart. It cant break through the average middle ban on weekly chart too. So the big pic for it is totally bearish. And it would need to meet the lower band of BB first before making any strong reversal on weekly chart.
And on daily chart, it needs to break the bottom support level to make a new impulse leg down. Otherwise, it might make a triple top first.
Good luck on this pair.
LESS IS MORE!