GBPUSD | A GOOD SELLING OPPORTUNITY ONCE IT RETESTS
Hello traders,
This trade had a nice bearish engulfing candle crossing the 25-50 moving averages and now it feel sharply towards the downside.
Currently the trade is oversold and will very likely have a pullback, if not yet then it will definitely have buying pressure once it reaches the market support zone in blue.
After the pullback, we should aim to sell GBPUSD again.
Fundamentals - Hegdefunds are currently selling off GBP against USD so there is no surprise that the market is dropping. The Dollar is also benefiting for safe haven flows.
This trade had a nice bearish engulfing candle crossing the 25-50 moving averages and now it feel sharply towards the downside.
Currently the trade is oversold and will very likely have a pullback, if not yet then it will definitely have buying pressure once it reaches the market support zone in blue.
After the pullback, we should aim to sell GBPUSD again.
Fundamentals - Hegdefunds are currently selling off GBP against USD so there is no surprise that the market is dropping. The Dollar is also benefiting for safe haven flows.
