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GBPUSD drifting lower but lacks momentum

Brittiska pund/Amerikanska dollar (FX:GBPUSD)  
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FX:GBPUSD   Brittiska pund/Amerikanska dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdsignal gbpusdtrade gbpusdanalysis gbpusdidea gbpusd_forecast
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdsignal gbpusdtrade gbpusdanalysis gbpusdidea gbpusd_forecast
In my weekend analysis, I pointed out that the Weekly Pinbar candlestick pattern indicates that GBPUSD Bulls are getting weak. That set-up is still valid.
GBPUSD Weekly Chart Analysis: Bulls are getting weak
However, in the 4H Chart, downtrend lacks momentum.

A break below the 4H support will confirm the downtrend.

My plan is to either sell close to the previous high around 1.26 or wait for a confirmation of the downtrend and then sell on lower TFs.
Kommentera:
just a quick update. While Gbpusd reaches a proper zone, we had a good 200+ pips profit from buying GBPAUD yesterday. Thought this might be helpful to the GBP traders

Liknande idéer

TraderAvDM
GBPUSD Weekly Chart Analysis: Bulls are getting weak
TraderAvDM
Looking at the 100D EMA as a PRZ
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