bearish engulfing in D Time Frame
double top in 4 and 4 H Time Frame
range at 25 feb high
is our reversal signs.
we have 2 potential targets
i think dollar going to be strong this week against other pairs.
psychological 1.4000 hold the GBPUSD bulls under itelf. if this level break and price confirm above it then we can expect a good busllish move to D target . we have some confluences at D target
3.bullish chanel midline
4.mid range level 1.4250.
price is under monthly and weekly historical resistance.if resistance hold the price then can expect price to test the 131.00 support zone.but if price break the resistance then we can expect it to go to next level at 133.50 then 137.00 as a strong resistance.
in daily time frame support zone at 131.00 keep the price and push it up so we are bullish on EJ for now.
GBPUSD is in a uptrend channel.last week it form a bearish shooting star candle. so we are bearish on it now and our target can be the next weekly support at 1.36600 if price break it then we can expect the price to get around 1.35000 on fibo expantion level -0.27.
after last week good news we saw that USD strengthened against EUR and formed a clear shooting star pattern that engulfed 5 or 6 candles.so we are clearly in a correction. c target can be on 61.8 fibo ratio at 1.18750. after that i looking for reversal patterns to the target D at 1.22770.