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GBPUSD Bearish
British Pound / U.S. Dollar
Short
GBPUSD Bearish
By khaled_FX
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Updated
Oct 10, 2021
1
Cheer
Cheer
Oct 9, 2021
• Monthly Top in place at 1.42 historical Resistance with a bearish reversal candles pattern
• Sep Bearish candle with higher volume
• Weekly uptrend lost momentum and correcting
• Weekly support zone at 1.3350 to 1.35 "Green zone"
• Daily bearish double top pattern
• Daily bearish wave formation with target at 1.33 100% fib extension "Blue zone"
• 4H Resistance at 1.3660 (50% fib ret) then 1.3720 (61.8%) "Red Zone"
Bias to downside
Plan to sell high
Oct 10, 2021
Comment
COT report of last week shows bearish bias, as non-commercial traders are more short than long and last week they added more short positions
Oct 10, 2021
Comment
COT report shows bullish bias for USD index
Oct 10, 2021
Comment
I may not post new trades as i am already in short positions since last week
Chart Patterns
Trend Analysis
Wave Analysis
khaled_FX
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