Bearish Sentiments

2020-01-11 07:58:12

FX:GBPUSD
WEEKLY
TDI Priceline is below bloodline in the weekly time frame, with what appears to be an ''M'' second leg pattern forming. Price has been wicking for 2 weeks rejecting below weekly Fibonacci 23.60.
Heikin Ashi appears to be bearish and weekly price is at demand zone, sellers are gearing up shortly. It is very possible to expect more bearish moves.
DAILY
Previous daily candle closed with a big wick (9th January, 2020), current daily candle (10th January, 2020) also closed below the previous (9th(.
Could it be that price could be filling the wick on the left (9th January, 2020).
Daily TDI
Priceline is still below bloodline and could still push lower to SOLID 50 on the daily chart.
Heikin Ashi in the daily is bearish, indicating more sell pressure.
Minor Daily Support is @ 1.3054 (KINDLY PLOT IT ON YOUR CHART AND WATCH H1 FOR COMMUNICATION)
Daily Candle closed below daily pivot 1.30678.

[*]4 HOUR CHART
Price created OHLC this entire week, with the open starting on Monday (06 January, 2020). The 'HIGH' was created on the ( 07 January, 2020, with the 'LOW' finally forming on the (9TH January, 2020).
We also experienced OHLC structure happening from the (8TH,9TH,10TH,January 2020)
TDI
Priceline is also below bloodline.
A break below our minor daily support (1.30540) will see price pushing more to the downside and towards our previous 4 hour Take Profit 1.30368.
Sellers are slowly Dominating
Wait for Monday Market close to determine a more valid direction tho price is currently Bearish in all time frames (WEEKLY/DAILY/4 HOUR)