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Gold Price Futures (GC) Technical Analysis – Plenty of Room to Upside on Breakout Over $1744.30

GBP/USD Big SHS Pattern as the Drop is Expected After a Pullback

WikiFX

| 2021-03-16 11:29

Abstract：The GBP/USD is bearish. We could see a move to the POC zone and from there we might expect a fresh drop.

The GBP/USD is bearish. We could see a move to the POC zone and from there we might expect a fresh drop.

[fx-forecasts-cta instrument=gbp-usd broker=etoro link=https://ad.doubleclick.net/ddm/clk/483046250;289793892;y disclaimer=75%_of_retail_CFD_investors_lose_money]

1.3883-1.3893 is the POC zone. There is a confluence of a SHS pattern trendline and the zone. If the strong trend persists then it will be hard to break the 1.3856 zone too. The target is 1.3800. Look for potential rejections close to 1.3856 or the POC zone. If 1.3900 stays unbroken, the bearish trend will likely continue.

[fx-image src=/2021/03/word-image-505.png data-zoom-target=https://responsive.fxempire.com/cdn/n/n/_fxempire_/2021/03/word-image-505.png originalWidth=2500 ratio=2.1]

For a look at all of todays economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

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Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.