GBPUSD, week 5 price pattern, a clear route for week 6
GBPUSD has finally made a reversal pattern as we see on the H1 chart. It seems like the price has overextended for a while and finally, we see some hint that it would be moving down for the near future.
In week 4, GBPUSD has made a small consolidation followed by a final push upwards which lead to the reversal price pattern. It then quickly break below reversal zone in one to two days and followed to close in a new bearish zone 1.
It was noted that during the NFP, the price was not as volatile as people might think it is, and the price movement was very controlled, no surprises, no big movement.
In the Daily Chart of the pair, it was noted that Friday ended with a bearish candle, and a short upward tail and the weekly chart showed a bearish candle with a small upward tail.
The combination of a reversal price pattern at level 3, and the bearish candle observed at D1 and W1 candle gave the analysis a strong overview that a bearish week 6 is waiting.
That being said, things can change, so stay open-minded and flexible in our trades. I hope all you traders continue to make good returns!
If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
In week 4, GBPUSD has made a small consolidation followed by a final push upwards which lead to the reversal price pattern. It then quickly break below reversal zone in one to two days and followed to close in a new bearish zone 1.
It was noted that during the NFP, the price was not as volatile as people might think it is, and the price movement was very controlled, no surprises, no big movement.
In the Daily Chart of the pair, it was noted that Friday ended with a bearish candle, and a short upward tail and the weekly chart showed a bearish candle with a small upward tail.
The combination of a reversal price pattern at level 3, and the bearish candle observed at D1 and W1 candle gave the analysis a strong overview that a bearish week 6 is waiting.
That being said, things can change, so stay open-minded and flexible in our trades. I hope all you traders continue to make good returns!
If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
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