GBP/USD Technical Analysis
- GBP/USD is bearish
- Huge ATR
- IO pattern ™ in D1 time frame
- Target should be lower
- Big volatility
MEGATREND MAs: Bearish
D1 Chart GBP/USD
- Point 1 of 1-2-3 pattern
- Point 2 of 1-2-3 pattern
- Point 3 of 1-2-3 pattern
- IO pattern
- Target
The GBP/USD is having a huge volatility. 254 pips is the ATR for the last 14 days. We can see that the price is going strongly up and down. Sell the rallies is the option. The trend is down and the jaws of the MAs are open pointing down. Sell the rallies is the option.
IO pattern is the inside-outside pattern.The price is bouncing off the MAs which have an angle in the trend direction. The MAs are also spreaded which indicates momentum. The angle is down. In addition we can also spot 1-2-3 pattern which is a part of the ongoing trend in the GBP/USD. The entry zone is 1.1100 while stops need to be placed 50 pips above. The target is 1.0846 zone and possibly the M L3 camarilla pivot -1.0773. M L3 is intraweek target level.
This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system and a trading course. I am currently running 2 short positions in the GBP/USD. My Telegram group recently received 2 sell GBP/USD signals as a part of the trading method. Watching the daily time frame for this setup.
Cheers and safe trading,
Nenad
Summary of September trading results is HERE (click to see)
Cheers and safe trading,
Nenad
