Multiple confluences showing possible drop of pound against U.S dollar :
- Price currently on Resistance that match with Round Number 1.55 and Last swing Fibonacci 0.236
- Bear Pennant in a down trend, waiting to be broken
Waiting for reversal PA to trigger a SHORT
Currency Strenght Cross-analyze : GBP meets resistances on most of the other pairs, it confirms my...
Fundamentally, US dollar investors are patiently waiting for a rate rise by the mid of this year. The BoE is also using the same hawkish tone by which an interest rate rise is not impossible in the short time. The BoE inflation fell in January of this year to 0.5% given that its target rate is 2%, which increase the BoE concern over the threat of deflation. The...
Looking at the pink zone as a Bearish order block, if price enters this area I for one will be looking to short the GBPUSD the levels noted are 1.5790 up to 1.5870. Target would be an institutional level of 1.5520 which would be roughly 250 pips "Well within the weekly range. I will be looking round Tuesday to Wednesday for my short to materialize.
we''ve had this amazing sell off without a bounce so I expect one imminently check out the daily fib and the previous support of 1.67 is our bounce play target :)
