British Pound Daily ...from EmmaSchlueter

British Pound Daily Chart On the daily chart below, GBP/USD had fallen to the neckline of a developing bearish Head & Shoulders chart formation. On top of this, prices have broken under the 100-day Moving Average (MA), opening the door to an increasingly bearish technical conviction. Further downside confirmation exposes the May low of 1.2308. Meanwhile, in the event of a turn higher, the right shoulder peak is sitting just below 1.2848. Pushing above this price opens the door to undermining the chart formation, placing the focus on the former rising trendline from last year. #finance #trading #investing #forexsignals #pips #forextrading #invest #trader #forexstrategy #daytrading #swingtrading #mentor #technicalanalysis #tradingonline #forexeducation #fx #forex#forexmarket#stocks#finance#trading#investing#forexsignals

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EmmaSchlueter

On technical charts, the short-term bullish pressure remains intact after the DXY Index (USD index) rebounded last week from quite a strong converged floor at 102.50-1.0300, including the 89-period moving average and the lower edge of the Ichimoku cloud on the 240-minute charts. Zooming out, the index has been struggling to clear past a tough barrier at the May high of 104.70, slightly above the 200-day moving average. Negative divergence on the daily charts (declining momentum associated with flat index levels) is a sign that the index lacks the strength to break past the barrier, raising the risk of a retreat.

EmmaSchlueter