pasojov

GBPUSD - Facing resistance

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
Cable is facing resistance at the 0.618 fib @ 1.398.

Confluence:

Looking at DXY , it looks like the dollar is going to continue getting stronger in the short term.

Most other USD pairs are also at resistance.

RSI is flashing a bearish hidden divergence.


Expect a move back down to the major trendline/0.5 fib level before breaking out. Keep an eye out for a break above the 0.618 level.

Entry: 1.398
Stop: 1.402
TP: 1.392

Not financial advice yadayadayada DYOR.

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Comments

dollar will get stronger and stronger in few days ahead and this should drop nicely. Also in the US are slowly opening more businesses and the news of Astrazeneca that could have produced some bad Bach of the vaccine could dump the GBP
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