Why I Think GBPUSD Will Sell This Week...Technical Analysis
Hey Rich Friends,
I wanted to share my technical analysis of GBPUSD. Please remember to cross reference your own chart, indicators and the news for most comprehensive analysis. I think we can expect to see more selling and here is why...
1. The candles have already rejected the previous supply zone (red box)
2. The purple 10 EMA (Purple) has crossed below the 3 EMA (Blue), and this is a sell confirmation for me
3. The Stochastic is facing down, the slow line (orange) has crossed above the fast line (blue) and both the fast and slow lines are below 50. This is a sell confirmation for me
4. There is also a big gap that has to be filled in the market before the buying continues so I have set 3 potential TPs.
5. My SL will be at a previous high
I hope this is helpful. Please let me know your thoughts on this idea and if it makes sense to you!
Peace and Profit,
Cha
I wanted to share my technical analysis of GBPUSD. Please remember to cross reference your own chart, indicators and the news for most comprehensive analysis. I think we can expect to see more selling and here is why...
1. The candles have already rejected the previous supply zone (red box)
2. The purple 10 EMA (Purple) has crossed below the 3 EMA (Blue), and this is a sell confirmation for me
3. The Stochastic is facing down, the slow line (orange) has crossed above the fast line (blue) and both the fast and slow lines are below 50. This is a sell confirmation for me
4. There is also a big gap that has to be filled in the market before the buying continues so I have set 3 potential TPs.
5. My SL will be at a previous high
I hope this is helpful. Please let me know your thoughts on this idea and if it makes sense to you!
Peace and Profit,
Cha
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