GBPUSD 4H Chart : Suggest Further Deterioration
Hi. This is my current trade. GBPUSD moved sharply lower and the CCI and the Stochastic Oscillator generated sell signals, which suggest further deterioration in the coming days.
From today’s point of view, the currency bears pushed GBPUSD lower and the pair declined under the January 31 low.
As long as there are no buy signals generated by the indicators, another attempt to move lower is likely. If this is the case and GBPUSD declines lower, the next downside target will be the mid-January lows (around 1.2250-1.2260). Invalidation 1.2550
Money management in priority.
From today’s point of view, the currency bears pushed GBPUSD lower and the pair declined under the January 31 low.
As long as there are no buy signals generated by the indicators, another attempt to move lower is likely. If this is the case and GBPUSD declines lower, the next downside target will be the mid-January lows (around 1.2250-1.2260). Invalidation 1.2550
Money management in priority.