GU Daily Analysis
Daily: A Pin Bar has been printed on the previous day. This signify that the correction rally has likely finish & it will continue its bearish descent to 1.3325 & 1.3175. The Pin Bar is also printed on a significant Psychological Resistance 1.33.
4H: A 3 Inside Down has been formed as it closed below Resistance 1.33. This has also confirmed the formation of the New Swing High, which indicates that the downtrend will continue. The downside target will be 1.3225 & 1.3175.
1H: The price has found resistance on the previous support 1.3275. A sustained move below 1.3275 would resume the bearish move. If if failed to hold, the price could once again consolidate around the 1.3275 - 1.33 region. More confirmation on 1.3275 is needed.
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