Storyline: GU is currently in a bearish condition and has been that way for a minute.
Basically the whole year so far.
Last week price action initiated a sell for the continuation of the trend.
Price is currently moving off a weekly OB and headed for 1.03720
which is the -sell side liquidity that lies below the previous range swing low.
Follow for...
yesterdays H&S was valid, so I expect further move down, price can test green line, overall I'm in SOER mode on 1st tp is blue line, but overall I expectprice to drop down to bottom line of the triangle.
Link for the previous idea is attached down there.
Good luck.
Pluss I have small telegram chat where post instant updates for my charts: t.me
Un es esmu...
GBP SHORT
- Weak pound due to BREXIT
- More upcoming uncertainty with the brexit date on the 29th
- Trade war in the US creating uncertainty on global demand
hurting UK exports (excluding financial sector)
- Trade surplus likely to increase during the fall in demand
- Possible upcoming Austerity in the UK
This is my view of the GBP in the current market state,...
