Dear traders,
GBPUSD is trending downward. Recently it has broken a strong support at around 1.2027. It also has broken the neckline of a double top and M formation. If this monthly candle close above the support zone, then GU might go up. But if it closes below that it is going down. The confluence is more on the selling side because of the trend, double top and the M formation. Good luck everyone!
__________________________________________________________________________________________________________________________________________________
Guys if you like my ideas, please drop a like and follow me if u like my trades. Post comments about your idea too. We can manage the trade together.
__________________________________________________________________________________________________________________________________________________
DISCLAIMER:
__________
This is just my personal opinion. Every trader is independent. Every trader has the freedom to place a trade in any direction.
Thank you for your support,
FX Specialist
GBPUSD is trending downward. Recently it has broken a strong support at around 1.2027. It also has broken the neckline of a double top and M formation. If this monthly candle close above the support zone, then GU might go up. But if it closes below that it is going down. The confluence is more on the selling side because of the trend, double top and the M formation. Good luck everyone!
__________________________________________________________________________________________________________________________________________________
Guys if you like my ideas, please drop a like and follow me if u like my trades. Post comments about your idea too. We can manage the trade together.
__________________________________________________________________________________________________________________________________________________
DISCLAIMER:
__________
This is just my personal opinion. Every trader is independent. Every trader has the freedom to place a trade in any direction.
Thank you for your support,
FX Specialist