InvestMate|GBP/USD Undermining The Uptrend Channel💷💵

💷💵GBP/USD Undermining The Uptrend Channel

💷💵As I wrote in my last post GBP/USD behaved exactly as I predicted:

💷💵We broke out the bottom of the long-term uptrend channel.

💷💵The downtrend scenario remains unchanged at this point, I still expect a continuation of the local downtrend in the coming weeks.

💷💵The support and resistance zone remains unchanged.

💷💵Given that we have pierced the 50-period moving average and the MACD and RSI are generating downward signals as to the declines I have no doubts at the moment.

💷💵The scenario I'm playing out is a continuation of declines to levels around the support zone. 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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