GBPUSD - Could Bounce Soon

GBPUSD is maintaining price action within the descending channel yet again and with bullish divergence coming in on the 3D RSI it could be ready to have a pop to the upside.

I covered my short at the previous trendline touch when RSI was overbought in previous thread and if it can pop a bit here there could be another shorting opportunity.

PA could easily trickle down a while longer and as I have a strong bias to the downside for the dominant trend I'm not interested in trying to maintain a flimsy long position.

Showing this on the 3 day chart because the 200MA has very well found both support and resistance and so good chance it will provide resistance again.

Also the 50MA has very well found the top of the trend and with a bearish cross coming up if it could back to the 50MA and perform a candle pattern reversal that could provide a good entry.

Not advice.

Commento:

And thats why you dont trade against the dominant trend 😄