GBP Short
The market was overbought between April 25th - May 1st within a downtrend daily chart.
This overshot the price above the trend line (blue) so this can indicate a bull trap and market might encounter sell off in the next move.
Bearish signals
Red circle shows a strong bearish engulfing pattern with a significant lower low. Short term support-resistant is within 1.30120 - 1.29793
Short term trade with risk to reward ratio of 3.05
This overshot the price above the trend line (blue) so this can indicate a bull trap and market might encounter sell off in the next move.
Bearish signals
Red circle shows a strong bearish engulfing pattern with a significant lower low. Short term support-resistant is within 1.30120 - 1.29793
Short term trade with risk to reward ratio of 3.05
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