GBPUSD Possible Short Position

2022년 2월 13일

Price has reversed from the weekly resistance zone and moved downtrend below a daily descending trendline. Afterwise, It has reversed downwards again for the fourth time after reaching this daily structure and recently has made a correction up to the previous daily resistance zone as well as the Fibo level (61.8%). Currently, it has created an hourly double top on this critical zone and It is expected to reverse and continue the downwards momentum since the bullish correction seems to be completed. To confirm this analysis, you need to wait for the breakout of the hourly corrective structure below the mentioned hourly double top. When it is broken, it can continue the bearish movement until the previous supply zones.