GBPUSD Daily Analysis
W - Neutral, price made a large rejection candle at the support
D - Bearish, price has been in a bear trend. I will be prepared for the trend to change soon. possibly a push up to 1.39 area and then a push back down to the 1.375 area to form a inverted head and shoulders
DXY - Neutral, price is at the neckline of a DB pattern and is approaching the resistance with little momentum while also inside an ascending wedge pattern.
Swing entries -
price is too all over the place, no clear direction for a longer term trade
Scalping entries -
We may have already missed the move. price is looking a bit over extended however if it retraces that means this move up has less momentum then the previous moves at the same price. I would like to see a break and retest of the 1.383 area, but I don't expect that will happen today.
D - Bearish, price has been in a bear trend. I will be prepared for the trend to change soon. possibly a push up to 1.39 area and then a push back down to the 1.375 area to form a inverted head and shoulders
DXY - Neutral, price is at the neckline of a DB pattern and is approaching the resistance with little momentum while also inside an ascending wedge pattern.
Swing entries -
price is too all over the place, no clear direction for a longer term trade
Scalping entries -
We may have already missed the move. price is looking a bit over extended however if it retraces that means this move up has less momentum then the previous moves at the same price. I would like to see a break and retest of the 1.383 area, but I don't expect that will happen today.
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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.