Welcome to my second trend angle analysis for GBPUSD. Previous trend angle buy analysis was a huge success. Presented is a 1hr sell analysis within an ascending channel.
Within my set chart dimension the trend angle sell off top channel resistance is around 21-22 degrees. Given continuous pattern I sentiment a bottom channel support retest which lines up with our established support at 1.39500.
Currently we may see a slight pullback to dive back into our sell off to bottom support channel. A breach of top channel resistance tells us a significant long-term continuation in play to set a night high, passing our April 2018 highs.
Our current indicators sentiment a sell off of some sort. MACD/SIGANL completing a diversion to shoot for the 0 line. Our RSI is looking to drop for a reset to enter back into the overbought zone once we have a bottom support retest.
Attached is my previous analysis using this strategy. Please comment with thoughts and ideas. Thank you.