GBPUSD - Inverted Cup and Handle - Bears Taking Over
A giant inverted cup and handle spotted on GBPUSD daily timeframe.
With the recent turn of events in Russo-Ukraine war, we are getting witnessing history in the commodity prices. Gold touching 2000 meanwhile USD, GBP and Euro taking a hit. Following this, we are 65-70% positive that bears are taking over GBP on cable. A giant cup and handle and a broken lower trendline is a witness of bears assuming control of the market.
The rectangle marks the target zone of GBPUSD. For stop losses please look at Daily pivot points of cable.
If all goes right we are inshallah looking at 200-500 pips in short entry of cable.
I am saddened to say this but Queen is probably about to take a hit!
Best of luck, Happy trading and Happier profits.
With the recent turn of events in Russo-Ukraine war, we are getting witnessing history in the commodity prices. Gold touching 2000 meanwhile USD, GBP and Euro taking a hit. Following this, we are 65-70% positive that bears are taking over GBP on cable. A giant cup and handle and a broken lower trendline is a witness of bears assuming control of the market.
The rectangle marks the target zone of GBPUSD. For stop losses please look at Daily pivot points of cable.
If all goes right we are inshallah looking at 200-500 pips in short entry of cable.
I am saddened to say this but Queen is probably about to take a hit!
Best of luck, Happy trading and Happier profits.
