GBPUSD 1.5616
The pair still on a long term bullish bias, however, we have a short term bearish sentiment in a minor bearish channel The Goal for short term channel is to test the channel lows at 1.5350.
Bears, wait for a retracement to 1.5710 - 1.5690, look for buyers to try and failed
Target 1/ 1.5588, Target2/ 1.5550, be careful, stop loss/ above 1.5788
(Good Risk-to-Reward ratio)
Bulls, wait for the strong support at 1.5550 (Stop loss/1.5490) or for more conservative the lows of the channel 1.5370 (stop loss/1.5170)
Look for sellers to try and failed to make lower low at slower time frame
Target 1/ at the 21 ema, Target 2/ 1.5670
(Bad Risk-to-Reward ratio)
The pair still on a long term bullish bias, however, we have a short term bearish sentiment in a minor bearish channel The Goal for short term channel is to test the channel lows at 1.5350.
Bears, wait for a retracement to 1.5710 - 1.5690, look for buyers to try and failed
Target 1/ 1.5588, Target2/ 1.5550, be careful, stop loss/ above 1.5788
(Good Risk-to-Reward ratio)
Bulls, wait for the strong support at 1.5550 (Stop loss/1.5490) or for more conservative the lows of the channel 1.5370 (stop loss/1.5170)
Look for sellers to try and failed to make lower low at slower time frame
Target 1/ at the 21 ema, Target 2/ 1.5670
(Bad Risk-to-Reward ratio)
