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NoahXBorg
4. Okt. 2021 03:57

GBPUSD October Outlook Short

British Pound/U.S. DollarFXCM

Beschreibung

On the large scale, The overall Trend is still Bearish.

However I do expect the strength of USD to drop for a few days to fill in the imbalance of the previous bull run on the DXY;

Thus, I will expecting a retracement towards the area around level 1.36000:

Confluences at level 1.36000:
  • Previous Flip Zone (Red)
  • Fib Golden Zone (50%-61.8%) (Gold)
  • Test of long-term bearish trendline
  • Level 1.36000


Entry Criteria (Best with 3 or more confirmation):
  • Break and retest of counter-trendline (Red)
  • Retest of golden zone (Gold)
  • Retest of Flip Zone (Red)
  • Retest of Level 1.36000
  • Bearish Structure
  • Bearish candlesticks
  • Moving Average Crossover
  • DXY shows strength on a retest of support
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