This week's top down analysis of GBPUSD:
Monthly:
price is at resistance in a bearish rising wedge pattern, when it drops the next significant higher time frame support level is around 1.3350
Weekly:
price is at resistance and forming double top pattern, when it drops the next significant higher time frame support level is around 1.3350
Daily:
price is ranging in the area of the 23.6% Fibonacci level, the next significant level of support around 1.3350 also happens to be between the 50% and 61.8% retracement level
4 Hour:
A head and shoulder pattern has been completed and the neckline is being retested showing a spinning top swing point a monthly level of resistance. Additionally price is within a bearish rising wedge pattern inside of the higher time frame's bearish rising wedge and the bearish Fibonacci measurement shows that price is currently at the 61.8% retracement level.
Short term targets: 1.4000, 1.3965, 1.3930
Long term target: 1.3350
Monthly:
price is at resistance in a bearish rising wedge pattern, when it drops the next significant higher time frame support level is around 1.3350
Weekly:
price is at resistance and forming double top pattern, when it drops the next significant higher time frame support level is around 1.3350
Daily:
price is ranging in the area of the 23.6% Fibonacci level, the next significant level of support around 1.3350 also happens to be between the 50% and 61.8% retracement level
4 Hour:
A head and shoulder pattern has been completed and the neckline is being retested showing a spinning top swing point a monthly level of resistance. Additionally price is within a bearish rising wedge pattern inside of the higher time frame's bearish rising wedge and the bearish Fibonacci measurement shows that price is currently at the 61.8% retracement level.
Short term targets: 1.4000, 1.3965, 1.3930
Long term target: 1.3350
The Charts Are My Art.
FiReZ Trading Strategy
Money Printers Trading Group
FiReZ Trading Strategy
Money Printers Trading Group
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.
The Charts Are My Art.
FiReZ Trading Strategy
Money Printers Trading Group
FiReZ Trading Strategy
Money Printers Trading Group
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.