GBPUSD Short 12 Jan

Technical analysis for short GBPUSD trade

GBPUSD Daily

Price currently at role reversal resistance just above 1.22. Further resistance eyed at 1.23 and the daily 21

GBPUSD H4

1.23 coincides with the WPP just above the 61.8% fib. 50% fib coincides with WM2 role reversal

GBPUSD H1

Current role reversal resistance coincides with the 50% fib, price currently coming down though M5 is very oversold. Waiting for an overbought M5 and looking to sell the lower high. Alternatively eyeing resistance higher up - WM2 role reversal coincides with DM3, just above the 61.8% fib and 1.23 coincides with DR1/ WPP

7 thoughts on “GBPUSD Short 12 Jan”

  1. Profile photo of Joe urban Joe urban says:

    Watch out for usd weakness from fomc and trump that London may still be looking to trade today.

  2. I agree dollar is still trending bearish at least on M15 and H1.. On M5 its retracing hopefully its going to fall again on some fib level.

  3. That’s worked out well Ryan. Let’s hope it continues falling tomorrow.

    1. I remain a bear as long as there is resistance I am looking for opportunities to sell and as long as Brexit and PM May exist Pound is bearish – why wouldn’t bears continue to sell in a bearish market? and if it does move up then that means more downside $$$ 🙂

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