Bearish Scenario for GBP/USD
Current Sentiment: The GBP/USD market is displaying a continuous bearish pattern, indicating strong selling pressure. Price action suggests that bears are in control, pushing the pair lower through support levels.
Entry: Price is currently trending downwards after a potential lower high formation, breaking key support zones.
Bearish Targets:
1st Target: 1.32000 – This level aligns with a minor support area where previous consolidation occurred. A breach here confirms continued selling momentum.
2nd Target: 1.30600 – Historical support level; expect a potential short-term bounce or consolidation.
Final Target: 1.28100 – Major support level from previous long-term lows. A break below this could signal a shift in the broader market structure.
Current Sentiment: The GBP/USD market is displaying a continuous bearish pattern, indicating strong selling pressure. Price action suggests that bears are in control, pushing the pair lower through support levels.
Entry: Price is currently trending downwards after a potential lower high formation, breaking key support zones.
Bearish Targets:
1st Target: 1.32000 – This level aligns with a minor support area where previous consolidation occurred. A breach here confirms continued selling momentum.
2nd Target: 1.30600 – Historical support level; expect a potential short-term bounce or consolidation.
Final Target: 1.28100 – Major support level from previous long-term lows. A break below this could signal a shift in the broader market structure.
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.
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.