GBPUSD Price Action Analysis: Will the pound experience a short-
The weekly chart of GBPUSD has started a bearish return and has fallen to the support of $ 1,3934. This weekly support is in line with the 23.6% Fibonacci correction and the uptrend line. The GBPUSD daily chart also crossed below the 50-day moving average and the uptrend line, reaching support at $ 1.3934. The pound may jump out of this range.
The four-hour chart of GBPUSD also reached support near $ 1.39. The RSI is in saturation and may be on the rise. The first resistance of the pound is at $ 1,3993 and the next resistance is at $ 1,4021. But if the pound continues to decline, it will fall to the support of $ 1,3853 and then to the support of $ 1,3801.
The four-hour chart of GBPUSD also reached support near $ 1.39. The RSI is in saturation and may be on the rise. The first resistance of the pound is at $ 1,3993 and the next resistance is at $ 1,4021. But if the pound continues to decline, it will fall to the support of $ 1,3853 and then to the support of $ 1,3801.
