SHORT trade analysis on GBPUSD.
Graph is looking bearish from resistance area to support zone. Price completed Triple Top formation in nice Daily downtrend and is about to fall again. We may see retest on Neckline (TP. 1) as well but not necessary. Bearish Engulfing Candle also indicates sell on the chart. On chart is clearly seen Regular Bearish Divergence - at Double Top and Hidden Bearish Divergence on last Triple Top as well confirming price fall. Trade idea is also shown on RSI indicator.
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Graph is looking bearish from resistance area to support zone. Price completed Triple Top formation in nice Daily downtrend and is about to fall again. We may see retest on Neckline (TP. 1) as well but not necessary. Bearish Engulfing Candle also indicates sell on the chart. On chart is clearly seen Regular Bearish Divergence - at Double Top and Hidden Bearish Divergence on last Triple Top as well confirming price fall. Trade idea is also shown on RSI indicator.
If you liked this idea or if you have your own opinion about it, feel free to write in the comments.