High probability that GBUSD will continue downwards.
8h Chart shows the following confluences:
- Overall bearish trend - Lower Highs/ Lower Lows. Price below 180SMA.
- Price hitting a respected downward trend line
- Price hitting a physiological level @ 1.38000
- Price hitting the Fibonacci golden ratio
- Last candle was an Evening Star (although need to see one two more for confirmation).
- USD is bullish
8h Chart shows the following confluences:
- Overall bearish trend - Lower Highs/ Lower Lows. Price below 180SMA.
- Price hitting a respected downward trend line
- Price hitting a physiological level @ 1.38000
- Price hitting the Fibonacci golden ratio
- Last candle was an Evening Star (although need to see one two more for confirmation).
- USD is bullish