IS GBP/USD PUSHING DOWN OR UP?
Updated
Hi there,
The market is on a descending impulsive channel with swing highs & lows to the downside on the daily. Price is catching sellers and buyers in a corrective stage.
Price action on the overall daily is in a corrective stage which means that the structure isn't yet complete for a reversal.
Price on the daily could go either way. Personally, for me, price is bearish because we can see price is rejecting previous major low trendline to the downside.
However, price could break above previous major low structure because price is making a newer major low structure to the upside for a potential continuation.
Price on the four hourly, is on descending impulsive channel as well. Could we see a downfall?
The market is on a descending impulsive channel with swing highs & lows to the downside on the daily. Price is catching sellers and buyers in a corrective stage.
Price action on the overall daily is in a corrective stage which means that the structure isn't yet complete for a reversal.
Price on the daily could go either way. Personally, for me, price is bearish because we can see price is rejecting previous major low trendline to the downside.
However, price could break above previous major low structure because price is making a newer major low structure to the upside for a potential continuation.
Price on the four hourly, is on descending impulsive channel as well. Could we see a downfall?
Note
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