GPBUSD Bearish Megaphone starting new wave.
GBPUSD is trading inside a Bearish Megaphone for the past 30 trading days.
The price may now be supported by the 1hour MA50 but has formed the bearish formation it had on all prior tops under the Falling Resistance.
The 1hour RSI has formed a similar topping pattern.
As a result, this is a standard sell signal for the Bearish Megaphone.
All declines reached the 1.5 Fibonacci extension, so we can target at least the previous Low at 1.2850.
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The price may now be supported by the 1hour MA50 but has formed the bearish formation it had on all prior tops under the Falling Resistance.
The 1hour RSI has formed a similar topping pattern.
As a result, this is a standard sell signal for the Bearish Megaphone.
All declines reached the 1.5 Fibonacci extension, so we can target at least the previous Low at 1.2850.
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.