Rimani 
Condizioni di trading
Strumenti
In the period between September 13 - 20, a short-term Wedge-Pattern was demonstrated around 1.2550.
Shortly after, the reversal wedge-pattern was confirmed to the downside on September 23 demonstrating a successful bearish closure below 1.2450.
On September 25, the depicted bullish channel was invalidated as well with significant full-body bearish candlesticks which managed to achieve bearish closure below 1.2400.
Bearish persistence below 1.2400-1.2440 allowed more bearish decline to occur towards the price levels of 1.2210 where a recent Double-Bottom reversal pattern was originated with neckline located around 1.2400.
Two weeks ago, the price zone of 1.2400-1.2415 (reversal pattern neckline) was breached to the upside allowing further bullish advancement to occur towards 1.2800 then 1.300 where the GBP/USD looks overbought outside the depicted bullish channel.
This week, the GBP/USD pair is failing to achieve a successful bullish breakout above the depicted SUPPLY-zone (1.2980-1.3000) which corresponds to a previous Prominent TOP that goes back to May 2019.
That's why, sideway consolidations are expected to be demonstrated around the current price levels down to 1.2780 (Key-Level) until breakout occurs in either directions (More probably to the downside).
Initially, Bearish persistence below 1.2870 is needed to bring further bearish decline towards 1.2780 where an Intraday Key-Level comes to meet the pair.
Trade Recommendations:
Intraday traders are advised to wait for a bearish breakout below 1.2870 for a valid SELL entry.
T/P level to be placed around 1.2780 while S/L should be placed above 1.2920.
Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.
