GBPUSD Time To Go Up, But First A Short Term Sell Setup

We would come to a point that this massive drop in GBPUSD would come to end. Price is moving into a falling wedge pattern with MACD bullish divergence showing this down move is losing it's momentum. So what we should wait is for price to break above the pattern, watch for a buy setup and go long.

But first we could take a short term sell trade into the wedge. Price after a small impulsive move to the down has been into a correction, and a breakout below it will signal us going short.

Have an nice trading week, all..!

Kommentera:

Price broke below the corrective structure. We may now watch for sell setups