GBPUSD 4H : Under 1.2604 will drop
Updated
GBPUSD
New forecast
The pound sterling pair against the dollar faced strong negative pressure to break the 1.2700 level and reach the outskirts of the 1.2604 level, then turn lower and head towards achieving more of the expected bearish tendency during the coming period, noting that breaking the last level will open the way to heading towards the 1.2508 and 1.2447 areas onwards. Near term.
Therefore, a bearish bias will be likely for today, supported by moving average 50 that is continue to support the price to decline , taking into account that breaching 1.2727 will stop the expected decline and lead the price to restore the main upward trend again.
The expect range trading for today it will be between the resistance line 1.2773 and support line 1.2447.
Additionally ,Today News will affect on the market .
resistance line : 1.2727 , 1.2788
support line : 1.2604 , 1.2508
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New forecast
The pound sterling pair against the dollar faced strong negative pressure to break the 1.2700 level and reach the outskirts of the 1.2604 level, then turn lower and head towards achieving more of the expected bearish tendency during the coming period, noting that breaking the last level will open the way to heading towards the 1.2508 and 1.2447 areas onwards. Near term.
Therefore, a bearish bias will be likely for today, supported by moving average 50 that is continue to support the price to decline , taking into account that breaching 1.2727 will stop the expected decline and lead the price to restore the main upward trend again.
The expect range trading for today it will be between the resistance line 1.2773 and support line 1.2447.
Additionally ,Today News will affect on the market .
resistance line : 1.2727 , 1.2788
support line : 1.2604 , 1.2508
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Note
GBPUSD
Update
The British pound against the dollar pair is showing a noticeable upward tendency to approach the pivotal resistance 1.2727. Stability below this level is important for the continuation of the expected downward trend for today, as breaching it will push the price to try to return to the main upward path again.and our targets will be 1.2604 level and by breach this level will help the price to reach 1.2534 level
Therefore ,as long as price trade under 1.2727 level the downward scenario will be more likely ,taking into account that stabilized above 1.2727 level will support the price to rise up and return to the main upward path .
The expect range trading for today it will be between the resistance line 1.2773 and support line 1.2447.
Additionally ,Today News will affect on the market .
resistance line : 1.2727 , 1.2788
support line : 1.2604 , 1.2508
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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