Bearish clues:
- Price broke down the bullish oblique support in hour timeframe and realized a pullback on it
- Price broke down the 50 exponential moving average
- Bearish Andrews' Pitchfork
- Price a reached an important monthly support at 1.42000
- Price is now under the pivot point P of the Pivots Points indicator
GBP/USD could reach the level of 1.40100, which is a psychological price level and a matching level: this is also the middle fof the Andrews' Pitchfork, the meeting point with the 200 EMA, the 61.8% Fibonacci retracement level, a bullish oblique support and almost the support 2 (S2) of the Pivots Points indicator. To be preventive, we can wait the price breaks down the 78.6% Fibonacci retracement level.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Price broke down the bullish oblique support in hour timeframe and realized a pullback on it
- Price broke down the 50 exponential moving average
- Bearish Andrews' Pitchfork
- Price a reached an important monthly support at 1.42000
- Price is now under the pivot point P of the Pivots Points indicator
GBP/USD could reach the level of 1.40100, which is a psychological price level and a matching level: this is also the middle fof the Andrews' Pitchfork, the meeting point with the 200 EMA, the 61.8% Fibonacci retracement level, a bullish oblique support and almost the support 2 (S2) of the Pivots Points indicator. To be preventive, we can wait the price breaks down the 78.6% Fibonacci retracement level.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Trade closed: stop reached:
GBP/USD reached a new time the 1.42000 level.
Comment:
Finally, GBP/USD went down and reached the level of 1.40000 and lower. Bad timing...