GBP/USD Update: Giant Pin Bar Sell Signal Suggests Prices Could Collapse

GBP/USDGiant pin bar sell signal suggests prices could collapse this week. Summary: Bearish Bias. Long term down trend remains in tact with the most relevant nearby resistance levels at 1.2950 and 1.3100 and support at 1.2820 and 1.2660.

A massive bearish pin bar reversal has formed on the daily chart, suggesting prices are poised to move lower aggressively towards recent lows at 1.2820 and 1.2660 in the near term. Potential Trade Setup: Consider selling short at market price or wait for any price strength to sell short, targeting a move into 1.2820 and 1.2660.

GBPUSD – Sept. 10th, 2018

Post Source: Weekly Forex Market Commentary

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