GBPUSD 4H : Downtrend under 1.2110
GBPUSD
New forecast
The price perfectly fulfills my last idea and price reached our target .
The British pound pair against the dollar is showing some upward tendency to approach the pivotal resistance 1.2110. The price needs to hold below this level for the bearish trend scenario to remain effective for the coming period, as breaching it will lead the price to recover and head to test the resistance of the descending channel that organizes the current bearish wave, while we wait for a rebound. Bearish, heading towards 1.2030 then 1.1936 as main negative targets.
Therefore the downtrend scenario will be remain effective for the coming period supported by bearish channel and dollar strong , taking into account that breaching 1.2110 and stabilized above will postponed the bearish attempts and will try to correction .
Additionally ,Today News will affect the market .
support line : 1.2030 , 1.1936
resistance line : 1.2110 , 1.2200
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 price perfectly fulfills my last idea and price reached our target .
The British pound pair against the dollar is showing some upward tendency to approach the pivotal resistance 1.2110. The price needs to hold below this level for the bearish trend scenario to remain effective for the coming period, as breaching it will lead the price to recover and head to test the resistance of the descending channel that organizes the current bearish wave, while we wait for a rebound. Bearish, heading towards 1.2030 then 1.1936 as main negative targets.
Therefore the downtrend scenario will be remain effective for the coming period supported by bearish channel and dollar strong , taking into account that breaching 1.2110 and stabilized above will postponed the bearish attempts and will try to correction .
Additionally ,Today News will affect the market .
support line : 1.2030 , 1.1936
resistance line : 1.2110 , 1.2200
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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