Death Cross Forming in GBP/USD | Forex Factory

  • Death Cross Forming in GBP/USD

    From traderslog.com

    Despite a modest bounce in price on Friday and Monday morning, a bearish ‘Death Cross’ pattern is forming on the GBP/USD daily chart. The Death Cross is defined by the 50 period simple moving average crossing below the 200 period simple moving average and can herald a major down move in price when it appears on the daily chart. A break of the recent low of 1.2557 would mark the lowest levels since early January and bring the prior low of 1.2420 into view. Meanwhile, EUR/GBP remains near the highest levels of the year. Trump Supports No-Deal Brexit On Monday morning, U.S. President Donald Trump arrived in the U.K. ... (full story)

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biodunola07
Jun 3, 2019 8:23am
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Death cross or no death cross, it is always advisable that a retail trader goes by what he sees on the chart .
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stormtrader
Jun 3, 2019 8:56am
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Just look at the whole picture...if this is a death cross then what was the previous cross upwards? The very last peak of the up move...by that you should call it the resurrection cross cause it must just mean that the bears are just about done!...or is it last call for alcohol? anyone?
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Articulate
Jun 7, 2019 2:36am
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The current descent began around 1.3200 and the so called "death cross" is emerging at 1.2600 (600 pips later). This a pointless analysis and perfect example of lagging indicators. The best indicator remains Price Action (PA) and weekly candles the most reliable indicator of price direction. Trade the weekly candle and you will never miss your way.
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clockwork71
Jun 3, 2019 9:00am
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Death Cross is so late, it is almost always close to the bottom
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Bakker
Jun 3, 2019 9:08am
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Is at a major support level.
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Bakker
Jun 3, 2019 12:42pm
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USD is struggling against other majors. In free fall against CHF.
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swing77
Jun 3, 2019 8:28am
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i will beat on #GBP.....lets finding the Donnut
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micho
Jun 3, 2019 1:21pm
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death cross? what a joke...
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donroyalfx
Jun 3, 2019 8:39am
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Quoting biodunola07
Death cross or no death cross, it is always advisable that a retail trader goes by what he sees on the chart .
That is 85% right it works for me always
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Muhammedfx
Jun 3, 2019 2:21pm
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wtf
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Trader#7349
Jun 3, 2019 11:52pm
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No Brexit is not bad news for us the pound will gain to 10 year high against the Euro once we start trading with the U.S.A and already we have great deals on the table with China and Canada and Australia so it's only a blip for now.
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