Price retesting resistance zone. We can see hidden divergence on daily chart and double top pattern on 4 hour.
I will take short position on Monday if price gain bearish momentum during London session.
GU price retested previous market structure and got rejected from resistance zone and 61 Fibo. Pound shows weakness against the dollar for more than a month. So I will keep this pair on my watchlist next week and hope to see downtrend continuation.
As long we are above support we are still in play to reach new ATH.
Always look at the bigger picture. 1W chart just retested support and previous market structure.
Last week price action formed bullish hammer candle with rejection from 61 Fibo golden ratio.
Bullish on #XRP
1. Price got rejected from key zones like supply area, 50 Fibo and 200 MA.
2. Price completed full BCR - break close retest.
3. For additional confluence I checked DXY chart where price is in strong downtrend.
4. Bearish pin bar on 4-hour chart.
So now I hope to see downtrend continuation.