Hello Traders! 👋
What are your thoughts on GBPUSD?
On the GBPUSD chart, we can see that the price has repeatedly tested a key resistance zone but failed to break above it, resulting in multiple rejections.
After forming a rising wedge pattern, the pair has broken down below the wedge, and is now completing a pullback toward the broken trendline.
We expect that after some consolidation in this area and completion of the pullback, the price will likely resume its decline toward lower targets.
As long as price remains below the resistance zone and broken trendline, the bearish scenario remains valid.
Is the pullback complete and ready for the next leg down? Share your view below! 🤔👇
Don’t forget to like and share your thoughts in the comments! ❤️
What are your thoughts on GBPUSD?
On the GBPUSD chart, we can see that the price has repeatedly tested a key resistance zone but failed to break above it, resulting in multiple rejections.
After forming a rising wedge pattern, the pair has broken down below the wedge, and is now completing a pullback toward the broken trendline.
We expect that after some consolidation in this area and completion of the pullback, the price will likely resume its decline toward lower targets.
As long as price remains below the resistance zone and broken trendline, the bearish scenario remains valid.
Is the pullback complete and ready for the next leg down? Share your view below! 🤔👇
Don’t forget to like and share your thoughts in the comments! ❤️
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅INSTAGRAM:
instagram.com/marketanalaysis
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.