Dear traders,

It has been over a week since I last posted an article on GBPUSD.

This is how the chart looked back then and I was waiting for a clear sign to go short.

Germany 30 (DAX) Trading Analysis 16.06.2021
1 July, 2021 Daily GBPUSD

This is how where GBPUSD is trading at the moment:

Germany 30 (DAX) Trading Analysis 16.06.2021
16 July, 2021 Daily GBPUSD

The price is currently trading over 150 pips below the price when I wrote the article.

If price manages to hold below 1.4000 then we might see more bearish potential.

If price reverses from here, we might see a bullish breakout above 1.4250.

Germany 30 (DAX) Trading Analysis 16.06.2021

Today, I am looking at the German stock market or DAX 30.

It looks like there is some bearish pressure accumulating.

The daily chart is showing an inverted pin bar and also a small bearish engulfing pattern.

I will be looking for possibly going short if I see a confirmation after tomorrow’s open from the 4H chart.

If price continues the downfall, we might see it re-testing 15500 and why not even the 15000 handle.

Happy Trading,

Colibri Trader

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