InvestMate 💷💵 GBP/USD Double Peak = Declines 💷💵

5 févr. 2023

💷💵 GBP/USD Double Peak = Declines

💷💵 Nearest strong support zone: around the 0.382 fibo level of the downward wave.

💷💵 Nearest strong resistance zone: around recent peaks.

💷💵 Technical environment:

📊 Moving averages: 50/50

📊 MACD: Downtrend

📊 RSI: Downtrend

💷💵 Price Action: GBP/USD Like most currencies, it succumbed to the pressure of the strengthening US dollar. The British pound flopped badly because the pound itself has struggled to rise in recent weeks. This can be seen from the formation of a double top on the pair. There are two support zones ahead, the first one that has already stopped the declines once and the second one located around the fibo level of 0.382 of the entire upward wave. It looks like only the second support will be able to temporarily stop such steep declines. I encourage you to keep an eye on this pair once it is near the support zones.

📉 The scenario I am playing out is a continuation of the declines. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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8 févr. 2023

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