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MountOlympusFx

GBPUSD SELL: Weekly, Daily & 4hr Analysis

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
MountOlympusFx Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD Forex
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trendanalysis harmonicpatterns chartpattern gbpusd forex
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GBPUSD

+ Weekly: My overall bias for this pair is now bearish after previous low taken out. After rejection off 1.3116 price fell, closed below 1.3000 and closed as a bearish engulfing.

+ Daily: Clean break below both 1.3000 & 1.2966. Yesterday candle closed as a shooting star/ Marubozu signalling huge bear momentum.

+ 4hr: Looking for a slight pullback into 1.2966. If level holds then sellers will push the market down to 1.2800.
Comment:
Take some profit off as trade is now half way. Price going to pullback to about 1.3000 then fall again to overall target
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