GBP/USD possible signal for short positions.

25.01.2017 / 10:22

Rating:

GBP/USD

Date: 25 January, 2017

D1 Graph - Long-term downtrend.

The price has unsuccessfully testet a level of a horizontal resistance on level of 1.2569 and is now going back to test a level of a horizontal support of 1.2443. If the price test it successfully and goes below that level we might see a new "bearish" movement.

Indicators :

50 EMA below 200 EMA - Negative Signal

DEM : Points down - Negative signal

Price action : A "Hanging man" model was formed on a level of a horizontal resistance.

Alternative scenario : If the price goes back and break above the levels of resistance, this scenario will be denied.

Stop loss : 1.28132

Jr_trader - S.Panteleev

Varchev Traders

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GBP/USD possible signal for short positions.

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