Nico.Muselle
Short

GBPUSD weekly - downtrend continues ?

FX:GBPUSD   British Pound / U.S. Dollar
The USD still going very strong in all currency pairs and as long as buying Gold             is not an alternative, I see this bearish trend continue.

Based on structure and ratios, I see a potential AB=CD pattern in the making which would complete around the 0.786 retracement of the last impulse leg. It will however not be a straight run down the hill             as we'll have to break through some previous structure to get there.

Currently the RSI is very oversold, so we can expect a little rally back up into previous structure before trend continuation.

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