GBP / USD: Opportunities for new short positions

GBP / USD: Daily chart – downtrend

Price below diagonal resistance, the last bar closes below the 50MA

Price Action: engulfing bar – a negative signal

50 / 200MA: 50 under 200 – a negative trend
CCI (50) goes below 0 – negative territory

SL 1.26440

Alternative scenarios: if the price crosses above the shadow of the last bar that can spoil the negative formation and is likely to see the appreciation of the pound against the dollar.


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