GBPUSD 4H : Show bearish tendency
GBPUSD
New forecast
The GBPUSD is trading with quiet negativity to test the 1.2104 level, and the price needs to breach this level and stabilize below it to confirm the continuation of the expected bearish wave, which aims the 1.2062 level as the next main station.
Therefore the downward trend scenario will be remain valid supported by Moving average 50 continues to support the expected downward trend, taking into account that breaching 1.2125 and holding above it will stop the proposed decline and push the price to attempt recovery.
The expect range trading for today it will be between the resistance line 1.2156 and support line 1.2062.
support line : 1.2104 , 1.2062
resistance line : 1.2155 , 1.2192
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The GBPUSD is trading with quiet negativity to test the 1.2104 level, and the price needs to breach this level and stabilize below it to confirm the continuation of the expected bearish wave, which aims the 1.2062 level as the next main station.
Therefore the downward trend scenario will be remain valid supported by Moving average 50 continues to support the expected downward trend, taking into account that breaching 1.2125 and holding above it will stop the proposed decline and push the price to attempt recovery.
The expect range trading for today it will be between the resistance line 1.2156 and support line 1.2062.
support line : 1.2104 , 1.2062
resistance line : 1.2155 , 1.2192
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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