Gbpusd likely short
Updated
Confluences
Break and retest of the trend line
Possibly a formation of head and shoulder
The minor higher low broken hence a possible change in market structure if so we are waiting a buy between now and Monday to the next supply zone for a short or if the major resistance is maintained i.e. The present level of resistance
Finally the 70.5 fib retracement is around the supply zone, also around the retest point.....
.
Let just keep an eye as the market does it thing....then we react if it comes near our zone
Thanks feel free to comment and share your ideas too
Thanks.
Break and retest of the trend line
Possibly a formation of head and shoulder
The minor higher low broken hence a possible change in market structure if so we are waiting a buy between now and Monday to the next supply zone for a short or if the major resistance is maintained i.e. The present level of resistance
Finally the 70.5 fib retracement is around the supply zone, also around the retest point.....
.
Let just keep an eye as the market does it thing....then we react if it comes near our zone
Thanks feel free to comment and share your ideas too
Thanks.
Note
If the resistance is not broken a possible sell can occur at the point
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