GBPUSD overview

GBPUSD overview

We have two-top pattern on background.
1) This is FOMO buying culmination
2) Selling pressure.

Note Ratio indicator – it shows the profitbale buyers were the majority (3). But market is not designed to make profits for people. That is why we got decline (4) and tears for buyers.

Decline finished when the bearish profits became majority (5). Then market reversed up again to make tears for sellers. As you can guess, the upward movement finished when profitbale buyers become the majority (6) again. At that moment we got:
7) Fake penetration of high (1) – SLKT
8) Minor high

And today the chart plotted new two-tops pattern but on bigger scale in comparison with (1-2) pattern
9) Here is the level of Stop-Losses
10 Here is SL-Killing bar

Note the bulls were in majority. So, you should expect what?

11) Right! Tears for buyers.

I have bearish expectations until sellers’ profits became majority (bold orange line on the highs)

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