Mahtab_Tradia

GBPUSD Drop Again Or Upside Reverse?

FX:GBPUSD   Livre sterling / Dollar américain
As you see in the 1H time frame, there is a downtrend structure and price had an upside move after falling, to retrace the bearish move.

Currently, we can see that price has made a higher low with an upside push, but the bullish move was not strong enough and price entered to a consolidation zone and is bouncing inside it for now.

We should wait for a breakout on the yellow rectangle zone. Since the main trend is bearish, I expect a continuation on downside move and a bearish breakout on the rectangle, and a drop to 1.064 and 1.05

On the other side, if the red resistance level at 1.088 broken to the upside and price makes a higher high, the bearish scenario will be canceled and we expect a rise on GBPUSD around 1.1

Join My Telegram Channel:
t.me/Tradia_Channel

Follow My Instagram:
Mahtab_Tradia

My YouTube Channel:
youtube.com/channel/UCLVMX3VGgdo8d02jF99SihQ
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.