Technical analysis of GBPUSD
Market is is in a bullish direction with both 21 and 55 moving average, but price is bearish with the 8 above the 5 moving average. I am going to sell at 1.34000 while it is on a bearish trend till pivot point MM2/1.3150 where price will come back up to the next level of support at 1.32000 before it comes back down MM1/1.2775.
Market is bearish with the 21 being above the 55. Price is also bearish with 8 being above the 5. At the WM1 pivot level profit taking will take place before pricewill come back up to WPP pivot level where i will sell before profit heads down towards profit taking.