British Pound can reach seller zone and then start to decline
Hello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price a not long time ago started to trades inside a downward wedge, where it rebounded from the support line and rose to the resistance line, coinciding with the resistance level with the seller zone. After this move, GBP turned around and in a short time declined to the buyer zone, breaking the support level and soon declined more and reached the support line of the wedge. Then price rebounded from this line and soon exited from the wedge, after which continued to move up inside the upward channel, where GBP soon broke the 1.2450 support level also. After this, the price rose to the resistance line of the channel and then corrected to the support line, after which rebounded and in a short time rose to the resistance level. At the moment, GBP continues to trades near this level and I think that the British Pound can reach the seller zone and then start to decline to support line of upward channel. For this reason, I set my target at 1.2575 points. Please share this idea with your friends and click Boost 🚀
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