Pound-Dollar: Bearish Sentiments

27 de ago. de 2023

Hey traders! 🌟 Despite the ongoing bullish trend in the pound-dollar realm, I'm sensing a change in the wind, and here's why I'm turning my attention towards a bearish shorting opportunity. Let's break it down.

On the weekly chart, the bullish vibes are strong within our buy zone. But wait, when we shift to the daily chart, we spot a sneaky closing below that initial support at 1.2592. 📉

While it's not a full-on bearish alarm, it's giving us room to explore an aggressive short approach.

Zooming into the four-hour and one-hour charts, it's clear that a bearish trend is asserting itself. 🐻

Now, back to our trusty weekly chart analysis. As I mentioned, we're still in that buy zone, but I've got my eye on that slight break and close below the support.

The trend line isn't looking too happy. 😟

For a potential shorting play, I'm keeping an eagle eye on a pullback to that level.

Speaking of daily charts, a bearish shark pattern might just become my ally for a shorting endeavor. 🦈 And for those of you eyeing buying opportunities, 1.2407 could be your spotlight, where the market's response could tell us tales.

Hopping over to the four-hour chart, an immediate resistance level at 1.2656 might just be our cue for an aggressive shorting move.

And in the land of the one-hour chart, if buying's your jam, there are two paths – the retest of support at 1.2553 or a dance with the ABCD pattern at 1.2542.

Isn't it fascinating how one market can offer different opportunities, based on your angle of approach? Whether you're up for trend trading or counter-trend adventures, the choice is yours.