Time Frame: MONTHLY
Possible Trade: SELL
Quick Technical Analysis:
Possible strong Bearish Reversal coming up? GBPUSD seems to be in a significant Area of Resistance compared to price levels of March 2018. The Area of Support from 2009-2016 has now transformed into an Area of Resistance which, if respected, could signal a possible Bearish Reversal. GBPUSD has also begun to form a "Double Top" pattern which is a very powerful pattern in the Forex market that signals an upcoming Bearish market.
What do you think?
Disclaimer: I am not a financial advisor so please trade at your own risk. Use proper risk management and be sure to analyze the markets thoroughly before executing any trades. Thank you!
Possible Trade: SELL
Quick Technical Analysis:
Possible strong Bearish Reversal coming up? GBPUSD seems to be in a significant Area of Resistance compared to price levels of March 2018. The Area of Support from 2009-2016 has now transformed into an Area of Resistance which, if respected, could signal a possible Bearish Reversal. GBPUSD has also begun to form a "Double Top" pattern which is a very powerful pattern in the Forex market that signals an upcoming Bearish market.
What do you think?
Disclaimer: I am not a financial advisor so please trade at your own risk. Use proper risk management and be sure to analyze the markets thoroughly before executing any trades. Thank you!