GBPUSD H4 Following a Clear DESCENDING CHANNEL
TECHNICAL ANALYSIS:
-The price started following a long SIDE CHANNEL, constantly bouncing on the resistance and support.
-At the beginning of December, a strong MOMENTUM pushed the price up in a Bullish Movement, reaching the point at 1.35000, historical level of support, it was several time a reversal point.
-The price CLOSED the Third bounce with a clear BEARISH HARAMI Pattern, starting the last down movement until the end of the channel.
CONCLUSION:
I aspect the price going down for 100-150 pips, I've already opened a short position, lets wait the market!
I'd really appreciate a "like" if you enjoy my free analysis! have a good week and trade safe!
-The price started following a long SIDE CHANNEL, constantly bouncing on the resistance and support.
-At the beginning of December, a strong MOMENTUM pushed the price up in a Bullish Movement, reaching the point at 1.35000, historical level of support, it was several time a reversal point.
-The price CLOSED the Third bounce with a clear BEARISH HARAMI Pattern, starting the last down movement until the end of the channel.
CONCLUSION:
I aspect the price going down for 100-150 pips, I've already opened a short position, lets wait the market!
I'd really appreciate a "like" if you enjoy my free analysis! have a good week and trade safe!