philw44
Short

GBP/USD - Short - 8hr TF

FX:GBPUSD   British Pound / U.S. Dollar
There are some mixed signals from the price action of this pair. You could argue the latest retest resembles a bull flag , or the chart formation looks a little like an inverse head and shoulders .

At the moment my bias is still bearish as fundamentally we still have lower highs and lower lows. We also have the pin candlestick rejection from resistance.

As a cautious trader, i am awaiting a second re-test and rejection of resistance before entering a short position.

Good luck.

Comments

Bearish engulfing candle on the second test, so i have now entered the trade.
Reply
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