Technical analysis prediction for the 1st of august 2018

Instrument ; Gbp usd

Indicators; Ema200,50, Macd 12,26,9, Rsi 14, S/R

speculative position ; short position

price prediction ; 1.3100


weekly chart


Daily chart


Gbp usd mkt trend is strongly bearish bias and technical view on the weekly chart view suggest a likely continuation downtrend as long term speculation remains bearish bias, Ema signal is downtrend, Rsi (40.10), Macd signal is downtrend while on the daily chart view, the currency pair remain biased downtrend and in coming months i expect further weakness likely towards 1.3100 level , Ema signal is downtrend, Rsi (34.19), Macd signal downtrend and prediction for the 1st of august 2018 is 0.6800
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