Guys we have great short term sell opportunity on GBPUSD.
According to my analysis the following points validates my analysis:
1. We have a breakout of monthly trendline resistance.
2. Price has not retested trendline resistance, therefore price is still in the impulsive push phase.
3. Price has rejected of previous monthly resistance level. We see selling pressure on 1D timeframe with candlestick confirmation.
4. Price will likely sell off to retest monthly trendline resistance before buyers take over the market and drive GBPUSD higher.
***DISCLAIMER***
This analysis is of my own personal view and opinion of the market. Please ensure you always use proper risk management when trading.
According to my analysis the following points validates my analysis:
1. We have a breakout of monthly trendline resistance.
2. Price has not retested trendline resistance, therefore price is still in the impulsive push phase.
3. Price has rejected of previous monthly resistance level. We see selling pressure on 1D timeframe with candlestick confirmation.
4. Price will likely sell off to retest monthly trendline resistance before buyers take over the market and drive GBPUSD higher.
***DISCLAIMER***
This analysis is of my own personal view and opinion of the market. Please ensure you always use proper risk management when trading.