💱 GBPUSD - Strong Support Test. Waiting for a bounce
GBPUSD is being released from the market and after a false breakdown, the price is rapidly falling towards the support of the 1.2344 range, which could push the currency pair back.
TA on high timeframe:
1) A counter-trend correction is forming and we see price falling towards the 1.24400 area
2) The price is about to test the 1-month low, which is a strong support at 1.2338. A pullback is possible.
TA on the low timeframe:
1) Price breaks the uptrend and forms a downward price channel
2) False break of resistance 1.24428 forms a strong bearish impulse.
3) In a strong decline the currency pair loses liquidity to break support, so I assume that a pullback to resistance is possible.
4) I will wait for the pullback with the further fall from the resistance area.
5) There is quite weighty news today, the market may get into a storm
Key resistance: 1.24428
Key support: 1.23443
TA on high timeframe:
1) A counter-trend correction is forming and we see price falling towards the 1.24400 area
2) The price is about to test the 1-month low, which is a strong support at 1.2338. A pullback is possible.
TA on the low timeframe:
1) Price breaks the uptrend and forms a downward price channel
2) False break of resistance 1.24428 forms a strong bearish impulse.
3) In a strong decline the currency pair loses liquidity to break support, so I assume that a pullback to resistance is possible.
4) I will wait for the pullback with the further fall from the resistance area.
5) There is quite weighty news today, the market may get into a storm
Key resistance: 1.24428
Key support: 1.23443
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.