GBPUSD SHORTS! 100 PIPS!
- GU has reached monthly resistance, it's unlikely to break it without a deep pullback.
- GU has created a double top on the 4-hour and weekly timeframe.
- The DXY has created a double bottom and is showing signs of strength.
- GU hasn't had a weekly pullback in 6 weeks so it's due for a higher timeframe retracement.
I think this is the beginning of a long-term reversal. I predict GU will be bearish for the next few weeks, my bias is sells.
Let me know if you agree or disagree with my analysis in the comments.
- GU has created a double top on the 4-hour and weekly timeframe.
- The DXY has created a double bottom and is showing signs of strength.
- GU hasn't had a weekly pullback in 6 weeks so it's due for a higher timeframe retracement.
I think this is the beginning of a long-term reversal. I predict GU will be bearish for the next few weeks, my bias is sells.
Let me know if you agree or disagree with my analysis in the comments.
Trade active:
Please be aware that this is a swing trade opportunity, you might have to hold this trade for 1 or 2 days.