GBPUSD 1H : still under sell pressure
GBPUSD
OUTLOOK
Technical Abstract :
The British pound pair against the dollar resumed its negative creep, trying to move away from the 1.2400 level, reinforcing expectations of a continuation of the downward trend during the coming sessions, and we believe that the way is open to achieving our next main target at 1.2310.
Therefore, the downward trend scenario will remain valid and effective, which carries trading within the downward channel that appears in the chart, recalling the importance of stability below 1.2400 as a first condition for the continuation of the proposed downward trend.
The expect range trading for today it will be between resistance line 1.2400 and support line 1.2310
Additionally , Today news will affect the market directly so manage your account carefully .
support line : 1.2380 , 1.2310
resistance line : 1.2400 , 1.2442
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Technical Abstract :
The British pound pair against the dollar resumed its negative creep, trying to move away from the 1.2400 level, reinforcing expectations of a continuation of the downward trend during the coming sessions, and we believe that the way is open to achieving our next main target at 1.2310.
Therefore, the downward trend scenario will remain valid and effective, which carries trading within the downward channel that appears in the chart, recalling the importance of stability below 1.2400 as a first condition for the continuation of the proposed downward trend.
The expect range trading for today it will be between resistance line 1.2400 and support line 1.2310
Additionally , Today news will affect the market directly so manage your account carefully .
support line : 1.2380 , 1.2310
resistance line : 1.2400 , 1.2442
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
UPDATE
As we said , stability below 1.2400 as a first condition for the continuation of the proposed downward trend and now price can stable above that level so now the price will tries to rise up