GBPUSD Short -- EXPECTING NEXT DROP!!!
After seeing the sterling pound very strong against USD in terms of commitment in the past two months, reaching 1.3500 key level, two weeks ago this pair started a big drop due to macroeconomic issues related to Brexit agreement and COVID-19 development. Always that there´s some type of uncertainty, investors try to safe their money in non-risk currencies and commodities (metals), thats why in the past years, the USD dollar has been a very safe-haven asset winning the purchasing battle against all major currencies.
Talking about the technical point of view of the chart, we were in a overbought level with all the divergences activated in oscilators whispering a retracement in one moment to another (Wave A).
Now, the price is insituating weakness in order to reach upper levels ( Wave B couldn´t pass through 38.2% Fibonacci Retracement level), meaning that it could drop more until the lower support in 1.2600 with a high probability.
Good luck traders,
Talking about the technical point of view of the chart, we were in a overbought level with all the divergences activated in oscilators whispering a retracement in one moment to another (Wave A).
Now, the price is insituating weakness in order to reach upper levels ( Wave B couldn´t pass through 38.2% Fibonacci Retracement level), meaning that it could drop more until the lower support in 1.2600 with a high probability.
Good luck traders,
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