NoahXBorg

GBPUSD Idea for the week

FX:GBPUSD   British Pound / U.S. Dollar
Price has recently tested the long term bearish trendline and has also tested the 61.8% Fib level.

I will be looking to go short on a combination of 3 or more of these confluences:
  • Break and retest of level 1.36000
  • Break and retest of Bullish Push Line
  • Bearish Structure
  • Bearish Candlestick Pattern
  • Moving Average Crossover
  • Strength on the DXY

If price fails to go lower and breaks + retested long-term trendline, it could be retracing towards this previous high

Previous Analysis on GBPUSD