Sterlina / DollaroShort
GBPUSD - Bearish Outlook for the week
The 200EMA has not been kind to this pair, serving as stiff resistance on each test since 2011. Although the recent bull run has been strong, I am bearish for this week, looking for a retrace.
There also seemed to be a double bottom the formed with last week's breakthrough of the neckline at 1.57, so that'll be interesting to watch. Because of the double bottom, this trade is a bit more riskier. I am expecting it to retrace to the neckline at 1.57, then let's see what the pair does.
There also seemed to be a double bottom the formed with last week's breakthrough of the neckline at 1.57, so that'll be interesting to watch. Because of the double bottom, this trade is a bit more riskier. I am expecting it to retrace to the neckline at 1.57, then let's see what the pair does.
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