GBPUSD Weekly Chart Analysis: Bulls are getting weak
In my daily chart analysis last week, I told you that the 100D EMA could be a PRZ( Potential Reversal Zone) and you saw that price dropped more than 200 pips after hitting the 100D EMA.
(Last week's analysis)
In this Weekly chart, you can see a Pinbar candlestick pattern which to some extent, indicates that GBPUSD Bulls are getting weak.
My plan this week is to Sell near the 1.2580-1.2630 area and target the 1.2150 area as TP. However, to reduce my risk, I will sell only if I see some bearishness in the lower time frame.
In this Weekly chart, you can see a Pinbar candlestick pattern which to some extent, indicates that GBPUSD Bulls are getting weak.
My plan this week is to Sell near the 1.2580-1.2630 area and target the 1.2150 area as TP. However, to reduce my risk, I will sell only if I see some bearishness in the lower time frame.
