theforexportal

Marubozu weekly candle on GBPUSD - very BEARISH

FX:GBPUSD   British Pound / U.S. Dollar
The GBP came under severe pressure last week where it lost ground against all currencies save from the AUD where it gained a modest 50 pips but this has to considered quite an achievement considering the GBP fell over 200 pips against the USD and the JPY. The GBP/USD weekly candle was particularly revealing as it was as close to a Marubozu candle as you are likely to see suggesting the BEARS had complete control of the market from first bell to last.
Should we see continued selling of GBP next week this could indicate a significant reversal of the GBP's recent bullish direction and open a move to retest recent lows at 1.1987.
However, current levels do offer some support to the GBP so its not out of the question that the GBP may find buyers in this area but a failure to take out 1.24 on Monday could open the door to a major move south.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out