Get started
TraderAvDM

Looking at the 100D EMA as a PRZ

British Pound / U.S. Dollar (FX:GBPUSD)  
TraderAvDM Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdsignal gbpusdtrade gbpusdanalysis gbpusdidea
169
10
trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdsignal gbpusdtrade gbpusdanalysis gbpusdidea
GBPUSD keeps pushing higher but the recovery doesn't look very convincing. The daily candles are quite small compared to the average daily range during the downtrend which could indicate a change of trend very soon.

I am looking at the 1.2650-1.28 area as a Potential Reversal Zone(PRZ). A bearish daily candle in this zone could signal that the recovery has ended. If that happens, I will go short.
Comment:
Big reversal from the PRZ
Comment:
New idea
GBPUSD Reverses from the 100D EMA

Related Ideas

TraderAvDM
GBPUSD can still drop to 1.2158.
TraderAvDM
GBPUSD drifting lower but lacks momentum
TraderAvDM
GBPUSD makes moderate recovery, but unlikely to be Bullish
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.