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GBPUSD Facing Strong Bearish Momentum | May 29, 2017



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Gbpusd loses its bullish momentum after a long bullish rally. We saw big bearish candle on the daily chart which suggesting for more bearish pressure on this pair. It has also broken triangle which is signaling sell mode on this pair. This pair is also staying below 200 and 100 EMA on h4 chart. These every technical indicator is giving sell idea on this pair.

On the other hand, this pair is staying on near-term support zone. We may find bullish candle on this level to enter long again. But we have to confirm about big bullish candle from this support zone at 1.2770-90. 

Overall, this pair is on strong downward momentum. So if there is no big bullish candle from support, we need to stay in sell mode. 



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