GBPUSD weekly outlook

6 באוק׳ 2019

Very Interesting times for Gu as we have broken major structure On the D1 time frame. As of right now analyzing price action on the 4 HR you could see a clear head and shoulder and a clean break of the neckline leading price back down to 1.22000 creating the initial Low of the month. Clearly as you can see we rejected very bullish of of that level which leads me to believe that we could see possible retest of that head and shoulders neckline also being seen as structure resistance at this given time. As of right now i am waiting to see if price will retrace back up to at least the 1.23800 level and either give signal to go short and reject or possibly find support in this range Overall i will remain bearish until i see further price action as i have already laid out my targets. Thank you please leave feed back as it helps alot!!! Have great week and GL to all. P.S. dosent mean just go short at resistance lol.

6 באוק׳ 2019

הערה

I forgot to Say that i will be watching 1.2000 closely as that is the current low for the month and if broken would continue downward to create LL

6 באוק׳ 2019

הערה

1.22000*