GBP/USD – Dark cloud cover, need bearish confirmation
The action over the last two days has resulted in a ‘Dark Cloud Cover’ formation on the daily chart.
But bears need to be patient as the reversal of the rising trend from 1.2865 to 1.3445 will be confirmed only via a bearish move today.
If the spot weakens today, further losses towards 1.30 handle are likely over the next few days.
Meanwhile, fresh bids are seen coming-in only above 1.3445 (Sep 6 high).
But bears need to be patient as the reversal of the rising trend from 1.2865 to 1.3445 will be confirmed only via a bearish move today.
If the spot weakens today, further losses towards 1.30 handle are likely over the next few days.
Meanwhile, fresh bids are seen coming-in only above 1.3445 (Sep 6 high).
