GBPUSD 4H : Support further decline
GBPUSD
New forecast
The pound sterling pair against the dollar was unable to exceed the moving average 50, to trade with noticeable negativity and began to put pressure on the pivotal support level 1.2108, and by looking closely at the chart, we find that the price forms a head and shoulders pattern whose confirmation level is located at the aforementioned support, which means that breaking it will constitute an incentive. Negative. We expect the price to push to achieve negative targets starting at 1.2062 and extending to 1.2016.
Therefore, we are likely to witness more negative trading during the coming sessions, keeping in mind that breaching 1.2159 will stop the expected decline and lead the price to recover again.
The expect range trading for today it will be between the resistance line 1.2122 and support line 1.2016.
Additionally ,Today News will affect the market .
support line : 1.2062 , 1.2016
resistance line : 1.2122 , 1.2159
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 pound sterling pair against the dollar was unable to exceed the moving average 50, to trade with noticeable negativity and began to put pressure on the pivotal support level 1.2108, and by looking closely at the chart, we find that the price forms a head and shoulders pattern whose confirmation level is located at the aforementioned support, which means that breaking it will constitute an incentive. Negative. We expect the price to push to achieve negative targets starting at 1.2062 and extending to 1.2016.
Therefore, we are likely to witness more negative trading during the coming sessions, keeping in mind that breaching 1.2159 will stop the expected decline and lead the price to recover again.
The expect range trading for today it will be between the resistance line 1.2122 and support line 1.2016.
Additionally ,Today News will affect the market .
support line : 1.2062 , 1.2016
resistance line : 1.2122 , 1.2159
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
