Strong down channel is dominating the GBP/USD, bringing the pound lower.
We are also seeing lower RSI highs which is confirming the bearish momentum.
My first target is to 1.0519.
Notice, I don't expect the price to reach recent lows. and the reason is because, it just might be the solid support needed for the pound to bounce up from here.
First a tick up, then down and then let's see what happens to the channel.
Currently we are still bearish..
We are also seeing lower RSI highs which is confirming the bearish momentum.
My first target is to 1.0519.
Notice, I don't expect the price to reach recent lows. and the reason is because, it just might be the solid support needed for the pound to bounce up from here.
First a tick up, then down and then let's see what happens to the channel.
Currently we are still bearish..
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.