GBPUSD HAS MOVED A LOT HIGHER BASE ON FUNDAMENTAL REASON.
I AM NOT A FUNDAMENTALS TRADER SO I WILL NOT GO INTO DETAIL OF THE BOE NEWS.
BUT THIS IS MY TAKE ON GBPUSD. THIS IS AN EXHAUSTION MOVE.
I HAVE SELL SIGNALS FOR NZDUSD EURUSD. MY CORRELATION ANALYSIS TELLS ME THAT GBPUSD COULD BE FACING A 100PIPS+ DECLINE 24 HOURS - 48 HOURS FROM NOW.
CONFLUENCE FOR THIS TRADE
RSI DIVERGENCE
D1 50SMA RESISTANCE (IT DID NOT CLOSE ABOVE IT, IT CLOSED EXACTLY NEAR IT MAKING IT A PERFECT REJECTION)
OF COURSE, THIS IS ONLY MY TAKE ON THIS. DO YOUR OWN ANALYSIS. THIS IS QUITE A CONTRARIAN TRADE. ONCE PRICE BREAKS 1.500 IT WILL BE A DOWNWARD TUMBLE AND IT WILL FORM A 2 BAR REVERSAL ON THE D1 (POSSIBLE A BEARISH ENGULFING D1).
SUBSCRIBE LIKE AND COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
I AM NOT A FUNDAMENTALS TRADER SO I WILL NOT GO INTO DETAIL OF THE BOE NEWS.
BUT THIS IS MY TAKE ON GBPUSD. THIS IS AN EXHAUSTION MOVE.
I HAVE SELL SIGNALS FOR NZDUSD EURUSD. MY CORRELATION ANALYSIS TELLS ME THAT GBPUSD COULD BE FACING A 100PIPS+ DECLINE 24 HOURS - 48 HOURS FROM NOW.
CONFLUENCE FOR THIS TRADE
RSI DIVERGENCE
D1 50SMA RESISTANCE (IT DID NOT CLOSE ABOVE IT, IT CLOSED EXACTLY NEAR IT MAKING IT A PERFECT REJECTION)
OF COURSE, THIS IS ONLY MY TAKE ON THIS. DO YOUR OWN ANALYSIS. THIS IS QUITE A CONTRARIAN TRADE. ONCE PRICE BREAKS 1.500 IT WILL BE A DOWNWARD TUMBLE AND IT WILL FORM A 2 BAR REVERSAL ON THE D1 (POSSIBLE A BEARISH ENGULFING D1).
SUBSCRIBE LIKE AND COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
