{"id":11869,"date":"2022-04-06T08:09:06","date_gmt":"2022-04-06T08:09:06","guid":{"rendered":"https:\/\/tradingshot.com\/?p=11869"},"modified":"2023-05-09T08:13:26","modified_gmt":"2023-05-09T08:13:26","slug":"gbpusd-aiming-at-a-new-low-within-the-bearish-megaphone","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/04\/06\/gbpusd-aiming-at-a-new-low-within-the-bearish-megaphone\/","title":{"rendered":"GBPUSD aiming at a new Low within the Bearish Megaphone."},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>GBPUSD failed to break above the 1D MA50 (blue trend-line) and the 0.5 Fibonacci retracement level last week and as a result the market lost confidence and resumed the long-term bearish trend. That has been within a Bearish Megaphone pattern since July 2021.<\/p>\n<p>The selling fractal since February 17 resembles the sequence of late October &#8211; early December 2021. The pair also failed to break above the 1D MA50 and the 0.5 Fib after a short-term rebound, and eventually made a new Megaphone Lower Low on the 1.382 Fibonacci extension. That extension is currently at 1.2750. Only a break above the 1D MA50 can be treated as a short-term buy aimed at the 1D MA200 (orange trend-line).<\/p>\n<p>*Note: The RSI has been under Lower Highs since January 13.<\/p>\n<p>Tradingview link:<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/chart\/GBPUSD\/eAruR9Js-GBPUSD-aiming-at-a-new-Low-within-the-Bearish-Megaphone\" target=\"_blank\" rel=\"noopener\">https:\/\/www.tradingview.com\/chart\/GBPUSD\/eAruR9Js-GBPUSD-aiming-at-a-new-Low-within-the-Bearish-Megaphone<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; GBPUSD failed to break above the 1D MA50 (blue trend-line) and the 0.5 Fibonacci retracement level last week and as a result the market lost confidence and resumed the long-term bearish trend. That has been within a Bearish Megaphone pattern since July 2021. The selling fractal since February 17 resembles the sequence of late<\/p>\n","protected":false},"author":611,"featured_media":11870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-11869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=11869"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11869\/revisions"}],"predecessor-version":[{"id":11873,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11869\/revisions\/11873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/11870"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=11869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=11869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=11869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}