Hello Traders
Last week, USD got gains with NFP and unemployment results.
Also, sentiment around the USD is still bullish so we believe USD is shining even more in the following weeks.
So here is why we are bearish on GBP/USD:
1- RSI and Stochastic are declining (4hr TF).
2- Price made a lower high in lower TFs.
3- Also a small Cup and Handle pattern has been broken, indicating reversing in momentum.
4- Macro momentum is still bearish.
5- No local higher high indicates that bearish momentum will continue.
Targets have been shown in the chart.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Last week, USD got gains with NFP and unemployment results.
Also, sentiment around the USD is still bullish so we believe USD is shining even more in the following weeks.
So here is why we are bearish on GBP/USD:
1- RSI and Stochastic are declining (4hr TF).
2- Price made a lower high in lower TFs.
3- Also a small Cup and Handle pattern has been broken, indicating reversing in momentum.
4- Macro momentum is still bearish.
5- No local higher high indicates that bearish momentum will continue.
Targets have been shown in the chart.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)