GBPUSD Shorts: Pre-Weekly Analysis and Forecast
Technical Analysis
Assuming that the break from the channel is not a 'fakeout', we will continue with strong downward momentum this week: 07/05/18 . Evident that Bears are still in control. Targeting 0.382 fib level, likely to test the key 1.31 S/R level where Bears will start taking profits.
Entry: 1.36
S.L: Above the previous weeks highs at 1.38 S/R level
T.P: 1.31 at the 0.328 Fib level
Assuming that the break from the channel is not a 'fakeout', we will continue with strong downward momentum this week: 07/05/18 . Evident that Bears are still in control. Targeting 0.382 fib level, likely to test the key 1.31 S/R level where Bears will start taking profits.
Entry: 1.36
S.L: Above the previous weeks highs at 1.38 S/R level
T.P: 1.31 at the 0.328 Fib level