GBPUSD Weak after daily shooting star

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    GBPUSD, 240 min GBPUSD created a daily shooting star candle yesterday and fell outside the rising channel in today’s trading. The pair is about to create a four hour shooting star candle which suggests that the sellers are rejecting the rally attempts to the area above 1.4400. In the daily chart the Stochastics is getting overbought while the weekly resistance level at 1.4500 is relatively close. I am therefore looking for sell signals inside the above sell area between 1.4395 and

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