GbpUsd Daily Short Idea
As we know GU has been primarily bearish on all higher time-frames
Price action recently rejected the weekly resistance around 1.25500 at the end of September
We are now looking for price action to test broken structure as well as the daily 78.6% fib level
Ideally a strong bearish pattern like an engulfing or star pattern that blows through the moving average would be enough confirmation for entry
Our target will be the 0% daily fib level around 1.20000 followed by our second target, the -27% daily fib level around 1.19000
As we know GU has been primarily bearish on all higher time-frames
Price action recently rejected the weekly resistance around 1.25500 at the end of September
We are now looking for price action to test broken structure as well as the daily 78.6% fib level
Ideally a strong bearish pattern like an engulfing or star pattern that blows through the moving average would be enough confirmation for entry
Our target will be the 0% daily fib level around 1.20000 followed by our second target, the -27% daily fib level around 1.19000