GBP Forecast
a. 1W – Candle closed with a bearish sentiment.
b. 1D - Uptrend has been broken, therefore we are looking for a re-test and some short position.
Thoughts:
A lot of news directly influenced the price movement last week. And there is no doubt if #DXY will continue to gain strength this pair is more likely to continue its downtrend.
The alternative scenario will occur only if we could consolidate above the 1D trendline.
b. 1D - Uptrend has been broken, therefore we are looking for a re-test and some short position.
Thoughts:
A lot of news directly influenced the price movement last week. And there is no doubt if #DXY will continue to gain strength this pair is more likely to continue its downtrend.
The alternative scenario will occur only if we could consolidate above the 1D trendline.
Related publications
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.