POUND- Bear structure, bear context .
Hello everyone
In the past week we witnessed a steep bear market structure bringing us to channel that we have last been on July of 2020.In this situation we may get to see the price lose the sharp and steep momentum's of the last week for GBPUSD.
In addition to what we have seen so far , we may get lower prices for GBP. With the support level of 1.25$ and resistance level of 1.26$ ,as a channel on daily ,we may have the price stays in this channel for a while ( on the good side).If you see the full part of the glass, we may even see the price reaches down to 1.2$ by the end of the month or the end of the next week.
For those of you who want to buy here:
You have seen a pinbar( 3 bar pattern) on daily, but the context is not in your favor.
In the past week we witnessed a steep bear market structure bringing us to channel that we have last been on July of 2020.In this situation we may get to see the price lose the sharp and steep momentum's of the last week for GBPUSD.
In addition to what we have seen so far , we may get lower prices for GBP. With the support level of 1.25$ and resistance level of 1.26$ ,as a channel on daily ,we may have the price stays in this channel for a while ( on the good side).If you see the full part of the glass, we may even see the price reaches down to 1.2$ by the end of the month or the end of the next week.
For those of you who want to buy here:
You have seen a pinbar( 3 bar pattern) on daily, but the context is not in your favor.
Yorum:
so far so good
Yorum:
we had a red inside bar and a doji for the yesterday, might be a good indication of the bear market.