rf16saun

USDGBP short opportunity with bearish divergence

Short
FX_IDC:USDGBP   U.S. Dollar / Pound Sterling
Per DXY analysis (Check the previous post) this pair has the most co-relation to the DXY price movement per last week. Dxy potential will fall after re-testing descending channel resistance, this pair has also reached near to the descending channel whereas a lot of fib zone exists. DXY has already broken the counter line to the down side, this pair is yet to break the counter trendline. Potential entry will be break of the counter trend line to the downside up to the descending channel support, this pair is also in a descending channel on higher time frame.

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