GBP/USD Short

20 thg 1, 2021

As we can all see price has been consolidating between the 1.37000 resistance area and the 1.35400 support area for a couple of weeks. In addition price hasn't broken past 1.37000 since 2018, meaning that it's quite a strong resistance. Price is currently rejcecting it once again leading to the only possible conclusion which is a move to the downside. In order to take this short position we need two more confirmations which are the the 1h MA (moving average) crossover and the break of the bullish trend line that was formed in the past. If those confirmations occur then we have better propabilities of this move to actually happen.

This was my analysis on GBP/USD and I hope you like it, see you on the next one!