GBP/USD analysis for November 08, 2018


Recently, the GBP/USD pair has been trading sideways at the price of 1.3120, which is a sign of indecision. According to the H1 time – frame, I have found the potential changing in the trend from bullish to bearish. I found the breakout of the 8-day upward trendline, head and shoulders pattern in the background and the hidden bearish on the MACD oscillator, which is a sign that seller are taking control from buyers. My advice is to watch for selling opportunities. The downward take profit levels are set at the price of 1.3040 and at the price of 1.3000.

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