GBPUSD has been trading in a bearish trend after made a top of1.1650 The price on 4H time frame has approached to horizontal support. The same zone is confluence of multiple supports.
1) Horizontal support
2) Rising support
3) 200SMA
4) 0.382 fib level
The bulls can show strong momentum at this confluence zone. A sustained move beyond 1.1450 is needed to negate any near term bearish outlook.
The bulls need to break above the horizontal resistance zone
Manage your trades accordingly.
1) Horizontal support
2) Rising support
3) 200SMA
4) 0.382 fib level
The bulls can show strong momentum at this confluence zone. A sustained move beyond 1.1450 is needed to negate any near term bearish outlook.
The bulls need to break above the horizontal resistance zone
Manage your trades accordingly.
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