GBP/USD Hook Pattern for a New Bearish Impulse

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/USD has formed 1-2-3 pattern and this is a U-turn after a retracement. Sell trades are going well and the market is bearish.

The trend line shows a bearish continuation move as the price was unable to break the previous high. We have a continuation after the POC 1.3875-1.3900. Close below 1.3799 will be bearish for the pair and we should see a continuation towards 1.3749 and 1.3680. Market is bearish and there is no sign of the trend change. Selling the rallies continues.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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