GBPUSD still following a bearish channel
Following on our previous analysis of the pair, the price action seems to follow the bearish channel, oscillating between the higher bound of the channel and a key support level @ 1.27.
Weekly: Since a new lower high has been formed on the Oct 8th, we can now expect to see a bearish trend towards a new lower low. If this trend is validated, the level we can expect is around the 1.2-1.21 area. We should use 1.25 as a likely intermediary step, confirmed both as a psychological level and a -27% fib level between the previous lower low and lower high.
On the daily timeframe, we can see a few minor bullish counter-trends being rejected at 1.317 and 1.307 (wicks). It's clear that there is still bullish momentum, likely driven by fundamentals around Brexit, however no major event took place to suggest a complete trend reversal.
Weekly: Since a new lower high has been formed on the Oct 8th, we can now expect to see a bearish trend towards a new lower low. If this trend is validated, the level we can expect is around the 1.2-1.21 area. We should use 1.25 as a likely intermediary step, confirmed both as a psychological level and a -27% fib level between the previous lower low and lower high.
On the daily timeframe, we can see a few minor bullish counter-trends being rejected at 1.317 and 1.307 (wicks). It's clear that there is still bullish momentum, likely driven by fundamentals around Brexit, however no major event took place to suggest a complete trend reversal.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.