GBPUSD 1H : Supports further decline
Updated
GBPUSD
OUTLOOK
The pound sterling pair against the dollar shows more bearish tendency to gradually approach our new expected target at 1.2200, and we expect negative trading to continue to achieve additional targets that reach the 1.2135 areas.
The descending channel supports the price to decline further, which is organized within the descending channel shown in the image, taking into account that breaching 1.2310 will stop the downward trend and push the price to make some upward intraday correction.
The expect range trading for today it will be between resistance line 1.2310 and support line 1.2200 until stabilized .
Support line : 1.2200 , 1.2135
Resistance line : 1.2310 , 1.2370
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 shows more bearish tendency to gradually approach our new expected target at 1.2200, and we expect negative trading to continue to achieve additional targets that reach the 1.2135 areas.
The descending channel supports the price to decline further, which is organized within the descending channel shown in the image, taking into account that breaching 1.2310 will stop the downward trend and push the price to make some upward intraday correction.
The expect range trading for today it will be between resistance line 1.2310 and support line 1.2200 until stabilized .
Support line : 1.2200 , 1.2135
Resistance line : 1.2310 , 1.2370
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
GBPUSDUPADET
The price perfectly fulfills my last idea and price reached to our first target +40 pip.
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