GBP/USD Trend Line Bearish Break

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

GBP/USD has formed a 6 point zig zag as the price is moving towards Q L3.

The price is bearish and below the trend line and moving averages. We might see the M L3 pivot hit -1.3424 and the continuation towards the Q L3 and M L4 support. 1.3345 and 1.3317. If the market  hits the support zone then we might see either a bounce or continuation lower. At this point the price should continue lower towards the targets.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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