GBP/USD Short Trade

2019년 8월 24일

At this stage the GBP/USD has had a reaction off of a big support level. However, I don't believe the down-trend is over just yet although we are in a major support level. As many know, it usually takes time before a trend ends for a new one to start and if bulls are wanting to come back into the market sellers will still be wanting to gain control and push price down. At this stage, sellers have the upper-hand as there is much more selling pressure posed on the GBP/USD. Based on the analysis, I'll be still looking to play the trend to the downside on the daily chart and chart. Until all 3 moving averages cross over or we close above the 200 EMA on the DAILY, I won't change my bias.