Gbpusdupdate
GBPUSD - Looks Like it Wants to Fall Out of Bed. Hello and welcome back. If you found this post helpful, please leave a like. GBPUSD looks like it wants to reach for the lows below and expand further down. Refer to the related ideas below this post. Thank you.
Institutional Sell build up.Since price has been dropping very harshly lately, Price has left areas that the market could go and trade at.How ever looking at the chart making new highs price could be going for high resistance runs to pruge the buy side liquidity before proceding to have another sell off again. This means instatutions having their sort term buy orders baught at the discount and planning to sell on a premium market. The BB might not be effective but it's an area of high probability.
GBPUSD - EXPECTED BUYING NOW COMINGGBPUSD has retraced to Fibonacci retracement
level of 0.382 (1.2477). I am now expecting this
to move up to test the previous high in the coming
days
Also Stoch RSI in a downward trajectory which
would support a quick sell before the move back up
continues
See previous analysis
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