RLinda ! GBPUSD-> The downward break of the TrendLine. Falling?
GBPUSD is forming a downward price exit from the ascending price channel. The trading session opens with a slight decline in the currency pair by 0.70% to 1.1318
In terms of technical analysis, we see a price exit from the formal ascending price channel, the weak boundaries may speak of the multi-valued further direction. The price is currently trading in a sideways range between 1.14900-1.09300. the price rests on the limit zone 1.14500-1.14900 and consolidates under the resistance zone, which may open further potential for a fall towards support
I assume that since the price is fixed under the previously broken line, which indicates a bearish market sentiment, then in the short and medium term, there may be a fall, I remind you that the global trend - bearish
Regards R.Linda!
In terms of technical analysis, we see a price exit from the formal ascending price channel, the weak boundaries may speak of the multi-valued further direction. The price is currently trading in a sideways range between 1.14900-1.09300. the price rests on the limit zone 1.14500-1.14900 and consolidates under the resistance zone, which may open further potential for a fall towards support
I assume that since the price is fixed under the previously broken line, which indicates a bearish market sentiment, then in the short and medium term, there may be a fall, I remind you that the global trend - bearish
- Short term target - support at 1.11000
- Medium-term target - liquidity area 1.09310
Regards R.Linda!
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