Currency analyst

GBP/USD is in the hands of bears

On the daily GBP/USD chart there's a sustainable downtrend: ADX>25 and rising, +DMA>-DMI, EMA9<EMA26. Rising MACD points at correction or consolidation. This situation may be used for opening short positions on the break of support or on the pullback to the upside.

On H1 GBP/USD consolidated (ADX<25) in the 1.2868-1.3040 range. Successful test of support or the recoil from the upper border of the chanel should be used for opening short positions. In the first case ADX has tp move to 25 and better even cross this mark.


Recommendation: SELL 1,2868 SL 1,2918 TP 1,2768, SELL 1,3040 SL 1,3090 TP 1,2840.


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