This analysis is a little different than what I usually do just because it's on the 1h chart but I don't think we will have any difficulties. So, as we can see price has been testing the 1.37000 resistance for a while and it has just rejected it, meaning that a move to the down side is probably what we expect. We also have a couple of confirmations that lead to this conclusion. Firstly the break of the bullish trend line that was formed, secondly the MA (moving average) crossover and lastly the LHs and LLs (lower highs and lower lows) that are currently being created. All these things leave us with a great opportunity to Short GBP/USD and capitalize off of this drop.
This was my analysis on GBP/USD and I hope you like it, see you on the next one!
This was my analysis on GBP/USD and I hope you like it, see you on the next one!