GBPUSD 1H: under 1.2310 will be more bearish
Updated
GBPUSD
OUTLOOK
The pound sterling pair against the dollar was able to achieve our main expected target at 1.2310 and is putting negative pressure on it, to support the chances of continuing the bearish tendency and heading towards achieving new declines that we expect to reach levels of 1.2266 and then 1.2200.
The descending channel continues to organize the expected downward wave, which is receiving support, taking into account that stabilized above 1.2310 will lead the price to begin recovery attempts and build an upward intraday wave targeting testing the 1.2435 areas initially.
Additionally : today news will affect the market .
support line : 1.2266 , 1.2200
resistance line : 1.2353 , 1.2400
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
The pound sterling pair against the dollar was able to achieve our main expected target at 1.2310 and is putting negative pressure on it, to support the chances of continuing the bearish tendency and heading towards achieving new declines that we expect to reach levels of 1.2266 and then 1.2200.
The descending channel continues to organize the expected downward wave, which is receiving support, taking into account that stabilized above 1.2310 will lead the price to begin recovery attempts and build an upward intraday wave targeting testing the 1.2435 areas initially.
Additionally : today news will affect the market .
support line : 1.2266 , 1.2200
resistance line : 1.2353 , 1.2400
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GBPUSDUPDATE
As we expect the price will be continue at the bearish trend and already price reached our first target and now on the way to the second target .
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.