GBPUSD SHORTS! 100 PIPS!
Updated
- GU has reached monthly resistance, it's unlikely to break it without a deep pullback.
- GU has created a double top on the 4-hour and weekly timeframe.
- The DXY has created a double bottom and is showing signs of strength.
- GU hasn't had a weekly pullback in 6 weeks so it's due for a higher timeframe retracement.
I think this is the beginning of a long-term reversal. I predict GU will be bearish for the next few weeks, my bias is sells.
Let me know if you agree or disagree with my analysis in the comments.
- GU has created a double top on the 4-hour and weekly timeframe.
- The DXY has created a double bottom and is showing signs of strength.
- GU hasn't had a weekly pullback in 6 weeks so it's due for a higher timeframe retracement.
I think this is the beginning of a long-term reversal. I predict GU will be bearish for the next few weeks, my bias is sells.
Let me know if you agree or disagree with my analysis in the comments.
Trade active
Please be aware that this is a swing trade opportunity, you might have to hold this trade for 1 or 2 days.
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