Hi Traders!

The above below shows the GBPUSD on the daily time frame. Price have risen to 1.68 before we see the bears coming in to bring the pair back lower to the 1.671 price level. We now see a bearish looking reversal candlestick pattern in what looks like a shooting star with a candle body that’s half of the whole candle. We can expect the bears attacking this pair in the coming days with a price signal like this.

We can also see that the price is at the top end of the up trend channel drawn on the chart. A retest of 1.66 cannot be discounted before continuation of the trend. We make a call for a change in trend yet as the structures that hold this trend together is still in place.

To your trading victory!

~ Ardy