GBPUSD Breakout Signals A Sell Off

Price has broken below a long term corrective structure, something which signals a potential selloff. We should now wait for a correction before watching for any sell setups. This correction may begin at the bullish bat pattern completion (I am not interested trading this pattern).

Price may retrace to test the broken level and there would should watch for our sell setup.

Kommentera:

Bat pattern has completed. I won't trade this pattern, as i am interested on selling this market after a pullback.

Kommentera:

The bat has pushed price back to the broken line. We should now watch for a sell setup. I have posted a new chart on this pair