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John_Tuohy_MSTA_CFTe

Cable looking bearish at week open 20th Jan.

Short
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
John_Tuohy_MSTA_CFTe  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators
5
0
trendanalysis chartpattern indicator
Reasons for Bearish outlook

Daily RSI (7 day) at 44.1

Possible H&S forming
Symmetrical triangle formation
Bearish daily candle on Friday 17th
Close on Friday 17th was below both 10D EMA and 21D EMA

Break of lower trend line and price support zone of 1.2980 - 1.2960 could lead to stronger bearish moves. Triangle target (if lower trend line broken) is 1.26 area.


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