Get started
CryptoHotep

$GBPUSD | Double Top-ish?

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
CryptoHotep  
OANDA:GBPUSD   British Pound / U.S. Dollar
Harmonic Patterns Trend Analysis Chart Patterns GBPUSD poundsterling Forex bollingerbandstrategy EMAS supportandresistancezones priceaction
1
0
harmonicpatterns trendanalysis chartpattern gbpusd poundsterling forex bollingerbandstrategy emas supportandresistancezones priceaction
The GBPUSD has had a wild ride in the past two weeks. Things are starting to normalize for the pound but here we have a simple 1:1 type of trade potential. We have GBPUSD breaking the upper Bollinger Band twice and not resistance at 1.14339 area. We also have over bought levels on the RSI in a micmic-ing double top like pattern. The only potential saving grace that could change this is the 200 EMA which is currently underneath. We have a couple of landing spots if all goes as planned at 1.133 and 1.125. The 1.13 line has not been respected since September and the latest support line is the latter.

My trade is currently highlighted by short position graphic.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.