GBP/USD 6 Point Zig Zag for Bearish Continuation
November 10, 2021
GBP/USD Technical Analysis
- Bearish zigzag
- Market is making lower lows
- Clear downtrend
- 6 – point Downward continuation
- Swing High
- SwingLow
- Pinbar
- Swing low
- Triple top
- Entry
The price is bearish. The markets are going down as technical and fundamentals are aligned. BOE stance was dovish and this has absolutely been reflecting on the price. At this point you can see that markets are bearish and the strong opinion is that bearish continuation is developing atm. Targets are 1.3462 followed by 1.3380 and eventually 1.3275. However, as markets are always in the pullback retracement mode, protection of the profits is important when the market gets to important support levels. Selling the rallies is the best way to trade the cable now.
