GBPUSD 4H : UNDER 1.2604 WILL DROP
Updated
GBPUSD
New forecast
Trading in the British pound against the dollar pair declined significantly, approaching the pivotal support 1.2604, noting that stability below the aforementioned level will put pressure on the price to reach 1.2508, and by breaking it, it will reach 1.2447.
Therefore we prefer the downward scenario during coming period but once stabilized under 1.2604 and then our targets will be activate . taking into account that stabilized above 1.2700 will help the price to rise up . so we have to wait until stabilized under 1.2604 and then we will sell it .
The expect range trading for today it will be between the resistance line 1.2727 and support line 1.2604.
support line : 1.2604 , 1.2534
resistance line : 1.2700 , 1.2727
Additionally ,Today News will affect on the market.
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New forecast
Trading in the British pound against the dollar pair declined significantly, approaching the pivotal support 1.2604, noting that stability below the aforementioned level will put pressure on the price to reach 1.2508, and by breaking it, it will reach 1.2447.
Therefore we prefer the downward scenario during coming period but once stabilized under 1.2604 and then our targets will be activate . taking into account that stabilized above 1.2700 will help the price to rise up . so we have to wait until stabilized under 1.2604 and then we will sell it .
The expect range trading for today it will be between the resistance line 1.2727 and support line 1.2604.
support line : 1.2604 , 1.2534
resistance line : 1.2700 , 1.2727
Additionally ,Today News will affect on the market.
Attention : We don't have any group in telegram be careful about scammer
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade active
Trade closed: target reached
GBPUSD
Update
The price perfectly fulfills my last idea and price reached to near to our second targets .
The British pound pair against the dollar faced negative pressure yesterday to reach near our expected target at 1.2534, and by breaking the 1.2534 level, it will support the chances of achieving negative trades targeting the 1.2447 areas and extending mainly to the 1.2382 level.
Therefore, a bearish bias will be likely for today, supported by a move below the moving average 50, keeping in mind that breaching 1.2604 will stop the current negative pressure and lead the price to recover again. so we have to wait until stabilized under 1.2534 and then sell it .
The expect range trading for today it will be between the resistance line 1.2646 and support line 1.2447.
Additionally ,Today News will affect on the market.
resistance line : 1.2604 , 1.2700
support line : 1.2534 , 1.2447
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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