GBPUSD: A Break Of 1.3320 Could Mean More Downside IMHO

Short

British Pound / U.S. Dollar (FX:GBPUSD)

Updated

FX:GBPUSD British Pound / U.S. Dollar

Trend Analysis Chart Patterns

trendanalysis chartpattern

Comments on the chart

Comment:

Stochastic has crossed and turned
Price is almost below the 21 and 50 EMAs
Possible bearish signs

Comment:

Price has closed below the sideways channel. This is a sign of weakness and an inability to sustain the upmove. So I am still bearish

Comment:

Nice downmove. Did the 'buy the rumour sell the fact' price action play out here?

Comment:

Price is practically at the same price point as when the idea was published. There is a bit of DXY bearishness coming in which could threaten this idea but UK has its own problems as well. however for this idea to continue to be in play we need some sizable downside price action to play out. Tenterhooks here...

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