GBPUSD 4H : Under sell pressure
GBPUSD
New forecast
The British pound pair fell against the dollar at the 1.2125 barrier, which formed a strong resistance that forced the price to remain above it. By closely looking at the chart, we find that the recent trading is confined within a bearish continuation flag pattern, and therefore, breaking the support 1.2125 will activate the negative effect of this pattern and push the price to achieve... We expect declines to reach the 1.2104 area, and by breaking it, it will reach 1.2062 in the near term.
Therefore, the downward trend scenario will be remain valid and affective during coming period , taking into account that breaching 1.2192 will stop the negative scenario and push the price to build a positive momentum again.
The expect range trading for today it will be between the resistance line 1.2192 and support line 1.2104.
Additionally ,Today News will affect the market .
support line : 1.2125 , 1.2104
resistance line : 1.2192 , 1.2216
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The British pound pair fell against the dollar at the 1.2125 barrier, which formed a strong resistance that forced the price to remain above it. By closely looking at the chart, we find that the recent trading is confined within a bearish continuation flag pattern, and therefore, breaking the support 1.2125 will activate the negative effect of this pattern and push the price to achieve... We expect declines to reach the 1.2104 area, and by breaking it, it will reach 1.2062 in the near term.
Therefore, the downward trend scenario will be remain valid and affective during coming period , taking into account that breaching 1.2192 will stop the negative scenario and push the price to build a positive momentum again.
The expect range trading for today it will be between the resistance line 1.2192 and support line 1.2104.
Additionally ,Today News will affect the market .
support line : 1.2125 , 1.2104
resistance line : 1.2192 , 1.2216
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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