In yesterday's trading session, GU broke out of the exhaustion pattern (pennant) followed by further bearish continuation. Today, I will be focusing on short-term selling opportunities on GU towards 1.3850 support zone. However, I'd prefer to see some further pullback for any short entries. Market is currently in the second phase of impulse, where the downwards movement is choppy with spikes, do not over-trade. Be aware that the current sell-off is nothing but a healthy pullback on the higher timeframe (4h - daily chart), avoid having an extreme target.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast & educational content.