GBPUSD: is the bearish market unstoppable?
The cable is falling, it has been 2 weeks now. The volatility is still high: the bands of bollingers are still widening. Although on Friday, the GBPUSD hit its 3 months low, it is still not showing any relevant signs of bouncing in any other direction but downward.
The trend is sharply bearish, the daily Pivot Point is around 1.5203. The GBPUSD started the week under its daily PP, suggesting the trend to remain bearish. The parity will have 1.51289 and 1.509 as its daily support levels. The daily resistance levels are 1.52396 and 1.5312.
The parity is still trading below its EMAs and is still not showing any signs of inversion on a daily scale.
If the freefall continues, 1.509 will be the next objective, making the parity closer to a zone where it may find stronger support.
tradingview.com/x/1CgldYjn/
The trend is sharply bearish, the daily Pivot Point is around 1.5203. The GBPUSD started the week under its daily PP, suggesting the trend to remain bearish. The parity will have 1.51289 and 1.509 as its daily support levels. The daily resistance levels are 1.52396 and 1.5312.
The parity is still trading below its EMAs and is still not showing any signs of inversion on a daily scale.
If the freefall continues, 1.509 will be the next objective, making the parity closer to a zone where it may find stronger support.
tradingview.com/x/1CgldYjn/
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