Short

GBPUSD → Global bearish trend resistance retest

is forming a counter-trend correction phase, pound sterling strengthens amid weakening dollar index.

On D1, the price is approaching a strong resistance and liquidity area, which has multiple confirmations, indicating that this area is important for traders. The correction may be over in the area of the nearest strong level and there is a high probability that the bearish trend in GBPUSD may continue.

Resistance levels: 1.2518, 1.2570
Support levels: 1.2422, 1.2300

On the global chart earlier the currency pair broke the bullish trend structure, on D1 the trend is still bearish and the price is heading towards the channel resistance, from which the decline may resume.

Regards R. Linda!

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

🧿Web: rlinda.com

Also on:

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.