GBPUSD SHORT IDEA
-Price has rejected the 1.23820 on the daily chart twice. Can also see price relationship occurring between indicator and price action. Furthermore, price seems to lose momentum as bull candles decrease in value in the wedge:
-The 4H chart shows multiple rejections of TL resistance and the daily Resistance, bearish divergence & a long wicked bearish candle:
-The 1H chart (for reference) shows a bearish engulfing candle followed by a break and re-test of a smaller zone. This would suggest a continuation down.
-The 4H chart shows multiple rejections of TL resistance and the daily Resistance, bearish divergence & a long wicked bearish candle:
-The 1H chart (for reference) shows a bearish engulfing candle followed by a break and re-test of a smaller zone. This would suggest a continuation down.
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