MM's Daily Technical Analysis - SHORT GBPUSD
Hi traders,
To recap in the past few days we have seen small resistance around the 1.36 area and yesterday night a very strong downward momentum has pushed GBPUSD to break the integer resistance level 1.3600.
In the hourly chart small price adjustment can be observed in the bottom area but no strong upward momentum up until the moment I'm writing this post.
Although it is like that GBPUSD may retouch the resistance level 1.36 in the short term, but mid-term wise speaking a price drop down to 1.32 level is what we are expecting.
My own trading system CLAM has given a sell signal and if we look at the daily chart GBPUSD follows the downward channel movement so a trading idea has now been established to short GBPUSD.(trade is now live)
OP: 1.35400 SL: 1.37600 TP: 1.32010
To recap in the past few days we have seen small resistance around the 1.36 area and yesterday night a very strong downward momentum has pushed GBPUSD to break the integer resistance level 1.3600.
In the hourly chart small price adjustment can be observed in the bottom area but no strong upward momentum up until the moment I'm writing this post.
Although it is like that GBPUSD may retouch the resistance level 1.36 in the short term, but mid-term wise speaking a price drop down to 1.32 level is what we are expecting.
My own trading system CLAM has given a sell signal and if we look at the daily chart GBPUSD follows the downward channel movement so a trading idea has now been established to short GBPUSD.(trade is now live)
OP: 1.35400 SL: 1.37600 TP: 1.32010