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pasojov
Mar 11, 2021 8:01 PM
GBPUSD - Facing resistance
Short
OANDA:GBPUSD
240
GBP/USD
OANDA
Description
⋅
Mar 11, 2021 8:01 PM
Cable is facing resistance at the 0.618 fib @ 1.398.
Confluence:
Looking at DXY, it looks like the dollar is going to continue getting stronger in the short term.
Most other USD pairs are also at resistance.
RSI is flashing a bearish hidden divergence.
Expect a move back down to the major trendline/0.5 fib level before breaking out. Keep an eye out for a break above the 0.618 level.
Entry: 1.398
Stop: 1.402
TP: 1.392
Not financial advice yadayadayada DYOR.
Follow for more:)
Support and Resistance
Fibonacci
Trend Lines
GBPUSD
gbpusdshort
gbpusdanalysis
Fibonacci Retracement
Comments
Kizuma
⋅
Mar 12, 2021 7:41 PM
dollar will get stronger and stronger in few days ahead and this should drop nicely. Also in the US are slowly opening more businesses and the news of Astrazeneca that could have produced some bad Bach of the vaccine could dump the GBP
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