4H CHART :
After a crazy bullish week, GBPUsd price just got to a resistance level... You can see by yourself, I'm talking about a major resistance.
On this timeframe, you can see price has been rejecting this resistance zone for several hours, showing up a possible movement to the downside.
In addition, as I said in my previous analysis, I expect USD pairs to go up this week so this pairs may find it very difficult to break this resistance.
However, the duration of this downside movement that I hope to see in this pair, will be influenced by the news and events that will take place during this week.
1H CHART :
As I said, in this timeframe is even more clear the downside movement that this pair will face. Price has been rejecting very well the resistance and those big long necks followed by a inverted hammer means that a bearish wave is ready to start this week.
I'm going to update this pair frequently this week.
After a crazy bullish week, GBPUsd price just got to a resistance level... You can see by yourself, I'm talking about a major resistance.
On this timeframe, you can see price has been rejecting this resistance zone for several hours, showing up a possible movement to the downside.
In addition, as I said in my previous analysis, I expect USD pairs to go up this week so this pairs may find it very difficult to break this resistance.
However, the duration of this downside movement that I hope to see in this pair, will be influenced by the news and events that will take place during this week.
1H CHART :
As I said, in this timeframe is even more clear the downside movement that this pair will face. Price has been rejecting very well the resistance and those big long necks followed by a inverted hammer means that a bearish wave is ready to start this week.
I'm going to update this pair frequently this week.