GBPUSD Continuation to the downside
High probability that GBUSD will continue downwards.
8h Chart shows the following confluences:
- Overall bearish trend - Lower Highs/ Lower Lows. Price below 180SMA.
- Price hitting a respected downward trend line
- Price hitting a physiological level @ 1.38000
- Price hitting the Fibonacci golden ratio
- Last candle was an Evening Star (although need to see one two more for confirmation).
- USD is bullish
8h Chart shows the following confluences:
- Overall bearish trend - Lower Highs/ Lower Lows. Price below 180SMA.
- Price hitting a respected downward trend line
- Price hitting a physiological level @ 1.38000
- Price hitting the Fibonacci golden ratio
- Last candle was an Evening Star (although need to see one two more for confirmation).
- USD is bullish
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.