Paun British / Dolar A.S.
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2020-09-24 - GBPUSD Update

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I've taken a step back on this pair. While I am bullish overall, the DXY has continued to gain strength. There is still room to move down and we appear to be forming either a bearish flag or neutral triangle. I'll be watching for a breakout direction and looking to enter on a lower timeframe.

My reasoning is that we could be forming a small ABC retracement on the higher timeframe which would lead to more downside.

Nota
Looks like a break to the upside. I'm looking to go long on a retest if price action agrees.
Nota
It looks like a higher timeframe downtrend is still in effect.

I took a few losses this week, but with proper risk management, I'm not hurting.

Penafian

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