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Three Bearish Setups On The GBP

Published 09/07/2018, 04:40 AM
GBP/USD
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GBP/JPY
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GBP/CAD
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On Friday, we do have three nice occasions with the British Pound. First one is the sell signal on the GBP/CAD, which will be triggered, when the price will break the orange horizontal support and the black up trendline. Yesterday's candle is a beautiful shooting star bouncing from the down trendline. That is really a very clean bearish setup!

Second one is the GBP/JPY, where the price bounced for the second time from the combination of few important resistances. Buyers have only one support left – 142.6. Once this line will be broken, we will have a huge sell signal.

GBP/USD is mostly waiting for the NFP data but the sell signal is very close. The price is bouncing from the long-term down trendline and is creating a right shoulder of the H&S pattern. Once the neckline will be broken, we will get a proper sell signal.

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