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michaeldobfx

GBPUSD in a uptrend channel (3-Hour chart) - Short opportunity

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
michaeldobfx  
OANDA:GBPUSD   British Pound / U.S. Dollar
Economic Cycles Trend Analysis Parallel Channel GBPUSD GBP USD short Technical Analysis
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economiccycle trendanalysis parallelchannel gbpusd gbp usd short technicalanalysis
Just a quick snapshot of the new channel that has emerged in the GBP/USD pair. Currently trading around the upper trendline, it is likely that we will see the pair move downwards towards the lower trendline. RSI is also around the 70s, and the 20 (red) & 50 (green) SMA lines are below it by a significant amount.

- MY ANALYSIS SHALL NOT BE TAKEN AS PROFESSIONAL INVESTMENT ADVICE. I DO NOT TAKE RESPONSIBILITY FOR ANY OF YOUR ACTIONS ;))
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