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GBP/USD Left Vulnerable Amid Void Of Bullish Reversal Candlesticks

GBP/USD Left Vulnerable Amid Void Of Bullish Reversal Candlesticks

2014-09-09 11:49:00
David de Ferranti, Currency Analyst
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Talking Points

  • GBP/USD Technical Strategy: Shorts Preferred
  • Plunge Leaves Key Reversal Signals Lacking
  • H4 Chart Left Wanting For Bullish Candlesticks

GBP/USD remains in a precarious position with a void of reversal candlesticks suggesting the pair may face further pressure. A daily close below the 1.6060 floor would set the scene for a drop towards the 1.5880 barrier.

GBP/USD: Descent Leaves Bullish Signals Lacking

GBP/USD Left Vulnerable Amid Void Of Bullish Reversal Candlesticks

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart tells a similar story to the daily with a lack of key reversal patterns in intraday trade. This leaves hopes of a recovery somewhat lacking and leaves the immediate risk skewed to the downside.

GBP/USD: Void of Reversal Signals Casts Risk Lower

GBP/USD Left Vulnerable Amid Void Of Bullish Reversal Candlesticks

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

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