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| GBP/USD |
SUMMARY :
The primary trend of GBP/USD now is bearish, from last few sessions, we
have seen some profit booking at lower levels, but prices are no
more sustaining on higher levels. The pair has formed a upward
channel in its 4 hourly chart which is expected to give a breakout at
downside. Prices are also taking resistance of 30 DMA & can come
down to test 200 DMA. Today if the pair breaks 1.5360 & managed
to sustain below this level, then we can expect it to come down &
test the level of 1.5310 in today's session.
RSI is sustaining in selling territory successfully,
supporting downside movement in the pair.
MACD line has recently break the zero line downside, indicating the upcoming bearishness in the market.
STRATEGY :- GBP/USD
is looking weak on charts. One can go for sell on higher level
strategy for this pair for intra day to
mid
term positions.
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