Hello Traders, As we are drawing closer to the EU referendum, and a potential BREXIT I would like to post my bias. We have an abundance of confluence supporting a continuation of the overall bearish trend of the GBPUSD. We have the 200 EMA acting as resistance, which has held after being tested on a number of occasions. We are currently at a resistance zone around 1.46840. We have bearish divergence on RSI supporting a move down. We have a bearish flag pattern indicating a possible move down. Can we close today with a shooting star candlestick pattern? This typically indicates a reversal, thus supporting a move down.
Please note that I will not necessarily trade this. Feel free to follow, like, share and comment. Instagram: KashMarkets
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