cable topping
I believe gbpusd is making its last efforts to keep high.
Weekly charts aren't good for trading purposes, at least for non long-term traders, but it still shows us a good "big pictures" of what's going on, and what to expect.
There is a bearish divergence between macd and price action for the last 4 weeks. The horizontal resistance seems consistant, and the trend line also seems reasonable.
Price is at -.618 Fibonacci retracement line, calculated on the previous up wave.
Meanwhile, daily chart as well as the 4H chart has also gone through bearish divergences.
I am quite bearish for cable, just looking forward to hop in.
Weekly charts aren't good for trading purposes, at least for non long-term traders, but it still shows us a good "big pictures" of what's going on, and what to expect.
There is a bearish divergence between macd and price action for the last 4 weeks. The horizontal resistance seems consistant, and the trend line also seems reasonable.
Price is at -.618 Fibonacci retracement line, calculated on the previous up wave.
Meanwhile, daily chart as well as the 4H chart has also gone through bearish divergences.
I am quite bearish for cable, just looking forward to hop in.
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