GBPUSD
Updated
The long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00% Fibonacci Retracement). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle (38.20% Fibonacci Retracement ).
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Comment
The long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00 Fibonacci Retracement ). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle.Comment
This long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00 Fibonacci Retracement ). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle (38.20% Fibonacci Retracement).
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