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Friday, June 04, 2021

GBPUSD | STRONG Bearish Reversal | Monthly

GBPUSD | STRONG Bearish Reversal | Monthly


Time Frame: MONTHLY
Possible Trade: SELL

Quick Technical Analysis:

Hmm... possible strong Bearish Reversal coming up? GBPUSD seems to be in a significant Area of Resistance compared to price levels of March 2018. The Area of Support from 2009-2016 has now transformed into an Area of Resistance which, if respected, could signal a possible Bearish Reversal. GBPUSD has also begun to form a "Double Top" pattern which is a very powerful pattern in the Forex market that signals an upcoming Bearish market.

What do you think?

Disclaimer: I am not a financial advisor so please trade at your own risk. Use proper risk management and be sure to analyze the markets thoroughly before executing any trades. Thank you!

from TradingView Ideas
via gqrds

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