GBPUSD Analysis June 28, 2020

On the monthly timeframe we are approaching the end of the month. We are forming a huge graveyard dojo candle rejecting a key monthly level. We can most likely see sings of reversal after this candle confirms closed. Down to the weekly timeframe we closed below the moving averages last week and could be heading lower. Overall we are in a downtrend and in a retracement at the moment. Considering the bearish momentum I will go down to a lower timeframe in order to look for structure. On the H4 timeframe we can clearly see LLs and LHs. We are currently at a low and no entries are presenting themselves. The target is the lower blue zone where I will expect some sort of pullback!