GBP USD MAY GO SHORT ACCORDING TO MY ANALYSIS. {6/6/2021}.
Disclaimer:- Educational Analysis says GBP USD may go Short according to my technicals.
This is not an entry signal. I have no concern with your profit and loss from this analysis.
Why short?
Looking at the pair weekly is held up. And daily is down.
On 15 min time frame pair making a lower high and lower low. Which can touch to the daily support at 1.4012. And plus
in 15 min tf, i Saw a double top which is confirming the pair is heading downside.
On 1 hr time, frame pitchfork tool is applied on the 2nd top.
For extra confirmation just zoom in and see the last candle before the market closed on Friday has bearish engulfing.
The risk to reward ratio is 1:1.99.
This is not an entry signal. I have no concern with your profit and loss from this analysis.
Why short?
Looking at the pair weekly is held up. And daily is down.
On 15 min time frame pair making a lower high and lower low. Which can touch to the daily support at 1.4012. And plus
in 15 min tf, i Saw a double top which is confirming the pair is heading downside.
On 1 hr time, frame pitchfork tool is applied on the 2nd top.
For extra confirmation just zoom in and see the last candle before the market closed on Friday has bearish engulfing.
The risk to reward ratio is 1:1.99.
Trade closed: target reached:
Hit tp.