Hello Traders,
As we are drawing closer to the EU referendum, and a potential BREXIT I would like to post my bias.
We have an abundance of confluence supporting a continuation of the overall bearish trend of the GBPUSD.
We have the 200 EMA acting as resistance, which has held after being tested on a number of occasions.
We are currently at a resistance zone around 1.46840.
We have bearish divergence on RSI supporting a move down.
We have a bearish flag pattern indicating a possible move down.
Can we close today with a shooting star candlestick pattern? This typically indicates a reversal, thus supporting a move down.
Please note that I will not necessarily trade this.
Feel free to follow, like, share and comment.
Instagram: @KashMarkets
As we are drawing closer to the EU referendum, and a potential BREXIT I would like to post my bias.
We have an abundance of confluence supporting a continuation of the overall bearish trend of the GBPUSD.
We have the 200 EMA acting as resistance, which has held after being tested on a number of occasions.
We are currently at a resistance zone around 1.46840.
We have bearish divergence on RSI supporting a move down.
We have a bearish flag pattern indicating a possible move down.
Can we close today with a shooting star candlestick pattern? This typically indicates a reversal, thus supporting a move down.
Please note that I will not necessarily trade this.
Feel free to follow, like, share and comment.
Instagram: @KashMarkets
Comment:
Price made a sharp move down !