GBPUSD

The long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00% Fibonacci Retracement). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle (38.20% Fibonacci Retracement ).

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Kommentar:

The long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00 Fibonacci Retracement ). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle.

Kommentar:

This long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00 Fibonacci Retracement ). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle (38.20% Fibonacci Retracement).