OANDA:GBPUSD   British Pound / U.S. Dollar
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1
1M

1W

1D

4H
Comment: 1M
This month’s candle has formed a bearish engulfing, while breaking through the 1.3000 mark. EMA are pointing to the downside.

1W
5 candles back we had a shooting star form followed by 2strong bearish candles. Bullish trend line broke and closed below it. This week’s candle is retesting and looks to close again below the trend line. EMA are not crossed to the down side but are closing into one another.

1D
Shooting star formed two candles back rejecting the bullish trend line and closing slight below. Yesterday we had indecision in the market followed by what seems to be another indecision today. Last previous low have been taken out. EMA’s are downwards facing yet again.

4H
Bearish trend line was broken to form the latest lower low. This followed by a retest of the trend line, which was broken to the upside. Which respected the 78% fib line, while forming a three inside down. Price continued down and dropped below the trend line. CTL was then broken at this point, alongside EMA cross.
Trade closed: stop reached: Stop hit

Comments

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