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FXtrades-gp
Dec 14, 2020 3:32 PM

GBPUSD H4 Following a Clear DESCENDING CHANNEL Short

British Pound/U.S. DollarFXCM

Description

TECHNICAL ANALYSIS:
-The price started following a long SIDE CHANNEL, constantly bouncing on the resistance and support.

-At the beginning of December, a strong MOMENTUM pushed the price up in a Bullish Movement, reaching the point at 1.35000, historical level of support, it was several time a reversal point.

-The price CLOSED the Third bounce with a clear BEARISH HARAMI Pattern, starting the last down movement until the end of the channel.

CONCLUSION:
I aspect the price going down for 100-150 pips, I've already opened a short position, lets wait the market!
I'd really appreciate a "like" if you enjoy my free analysis! have a good week and trade safe!
Comments
InkyGrip
Nice and looking splendid. Thanks 🦐🎅🏻
FXtrades-gp
@plancton0618, oh, Thanks so much! I really appreciate that, I'll do better for sure! I can also see your channel, its so interesting!
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