GBP/USD bearish zigzag is obvious: We go further down
|GBP/USD technical analysis
-
Bearish zigzag.
-
Market is making lower lows.
-
Clear downtrend.
-
6 - point Downward continuation.
-
Swing High
-
SwingLow
-
Pinbar
-
Swing low
-
Triple top
-
Entry
The price is bearish. The markets are going down as technical and fundamentals are aligned. BOE stance was dovish and this has absolutely been reflecting on the price. At this point you can see that markets are bearish and my strong opinion is that bearish continuation is developing atm.You can see all positions that I have and this new GBP/USD position. Targets are 1.3462 followed by 1.3380 and eventually 1.3275. However, as markets are always in the pullback retracement mode, protection of the profits is important when the market gets to important support levels. Selling the rallies is the best way to trade the cable now.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.