Don't short untill u see a break of the POC (point of control ) .....Possible H&S Pattern we are bulding the Right shoulder and that one is coinciding with the Down trend (The Red Arrow )...i m gonna say it again ..Don't sell ...do it only if price Fall bellow the POC of VolumeProfile! Good-Luck!!
I am posting both bullish and bearish ideas. Bullish scenario: Looking for a breakout from the falling wedge and then I'll open the position right after a green candle is confirmed on the retest of the trendline. Bearish scenario: If price is rejected from the trendline (with a confirmed red candle) I will open a short position.
After Brexit drama extending until the end of December.I believe the traders will resume following the technicals on the long run. GBPUSD is still in the downtrend. If you check previous months, it starts to test the previous high before down further.
Strong down trend. Nothing bullish to see here. Break of trend would be bullish, but I don't see that happening anytime soon.