DeGRAM | GBPUSD downturn in the channel

6 Oca

GBPUSD is in a descending channel below the trend lines.

The price is moving from the upper boundary of the channel and has already consolidated under the resistance level.

The chart maintains a descending structure on the small timeframes, while on the big timeframes an ascending structure is maintained and the indicators are forming a bullish convergence.

We expect a decline in the channel with the price holding under the 38.2% retracement level.

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9 Oca

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