orvilleawright

GBPUSD Price structure analysis (4H)

FX:GBPUSD   British Pound/U.S. Dollar
GBPUSD             (4H) The downward momentum is slowing down. Price has traded sideways for a couple of days below the 1.3000 level which as acted as resistance. It also at the 78.6% retracement .I am still bearish because we have a down channel and trading below the 50 SMA . Price is now at the 20 SMA which is flattening out due to the sideways price action.
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