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MountOlympusFx

GBPUSD SELL: Weekly, Daily & 4hr breakdown

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
MountOlympusFx Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis GBPUSD Forex
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trendanalysis chartpattern waveanalysis gbpusd forex
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GBPUSD Weekly:
• Price finally broke through 1.2700 monthly level and formed new low.
• Price in an overall bear trend with lower lows & lower highs.
• Moving averages are still bearish.

GBPUSD Daily:
• After break of 1.2700 monthly, price came back to level to retest and rejected off it for 4 days with bearish engulfing & shooting star candle.
• Friday candle closed below 1.2646 4hr level next target 1.2531 support.
• Moving averages are still bearish.

GBPUSD 4hr:
• Price broke through 1.2464 + ascending trendline now waiting for the retest of 1.2646 before we sell.
• I still think this pair will move a little lower to form a new low before going up for a retest.
• After retest of 1.2646 sells down to 1.2531 4hr support to create new lower low.
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