GBPUSD 4H :Still under sell pressure
GBPUSD
OUTLOOK
Technical abstract :
The price perfectly fulfills my last idea and the price reached to our first target and now on the way to the second .
The pound sterling pair against the dollar resumes its negative trades significantly, putting pressure on the support of the descending channel to encourage the price to provide more negative trades during the coming sessions, noting that our next target is at 1.2200, breaking which represents the key to rushing towards 1.2135 as the next negative station.
Therefore, the downward trend will remain likely in the immediate and short term, with a reminder of the importance of stability below 1.2310 to achieve the expected goals and it possible to retest and then drop .
Additionally ,Today News will affect the market .
support line : 1.2200 , 1.2135
resistance line : 1.2310 , 1.2370
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Technical abstract :
The price perfectly fulfills my last idea and the price reached to our first target and now on the way to the second .
The pound sterling pair against the dollar resumes its negative trades significantly, putting pressure on the support of the descending channel to encourage the price to provide more negative trades during the coming sessions, noting that our next target is at 1.2200, breaking which represents the key to rushing towards 1.2135 as the next negative station.
Therefore, the downward trend will remain likely in the immediate and short term, with a reminder of the importance of stability below 1.2310 to achieve the expected goals and it possible to retest and then drop .
Additionally ,Today News will affect the market .
support line : 1.2200 , 1.2135
resistance line : 1.2310 , 1.2370
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
