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MFXSCharts

GBPUSD Turns Lower From Resistance Confluence

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
MFXSCharts Updated   
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD bearishreversal darkcloudcover
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gbpusd bearishreversal darkcloudcover
GBPUSD turned lower earlier in the week, after pair found sellers at resistance zone/channel top confluence. Wednesday saw a Dark Cloud Cover reversal candle, with modest follow through on Thursday. Sellers will be looking to take out rising channel support at 1.32 and counting. A daily close above yesterday's high at 1.3376, would shift focus back on to the resistance zone/channel top above 1.34.
Comment:
Rising channel support comes in at 1.3213 today.
Comment:
Pair remains bearish absent a daily close above Friday's open 1.3290 / breach of Friday's highs
Comment:
Pair has found channel support - bearish bias invalidated.

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