GBP/USD hook pattern for a new bearish impulse

Nenad Kerkez Top-XE

The GBP/USD has formed 1-2-3 pattern and this is a U-turn after a retracement. Sell trades are going well and the market is bearish.

The trend line shows a bearish continuation move as the price was unable to break the previous high. We have a continuation after the POC 1.3875-1.3900. Close below 1.3799 will be bearish for the pair and we should see a continuation towards 1.3749 and 1.3680. Market is bearish and there is no sign of the trend change. Selling the rallies continues.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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