GBPUSD: BEARISH EXPANDING TRIANGLE 🔻
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will potentially create the "E" wave to continue further bearish to 1.1825 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at 60b & 35mbs over the three month timeframe.
+Anticipating a bearish breakout tomorrows NFP
GBP WEAKNESS: Anticipation is for the GBP to continue to be weighed down by the concerns over a global recession.
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will potentially create the "E" wave to continue further bearish to 1.1825 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at 60b & 35mbs over the three month timeframe.
+Anticipating a bearish breakout tomorrows NFP
GBP WEAKNESS: Anticipation is for the GBP to continue to be weighed down by the concerns over a global recession.
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