GBP-USD Daily and Trend Analysis
GBP-USD Daily and Trend Analysis
It took decades for sterling to drop below the 1.4000 price mark well it looks like it may take another decade for it to break above that.
The daily chart on the cable looks quite bullish for the past few days however the H4 begs to disagree seeing a closeup on the trend reversals, the UKs economy on the other hand
haven't been too promising for a bullish sterling.
In the coming days we could likely see price play around the 1.3---level but only for a while as the market is poised for a decline in price.
Traders and investors will be paying more attention to the breakout below the consolidation channel of the ABC Elliot wave pattern at the price level of <1.28--
❇️ Trend Resistance R1: 1.3100
🛑 Trend Support S1: 1.2800
It took decades for sterling to drop below the 1.4000 price mark well it looks like it may take another decade for it to break above that.
The daily chart on the cable looks quite bullish for the past few days however the H4 begs to disagree seeing a closeup on the trend reversals, the UKs economy on the other hand
haven't been too promising for a bullish sterling.
In the coming days we could likely see price play around the 1.3---level but only for a while as the market is poised for a decline in price.
Traders and investors will be paying more attention to the breakout below the consolidation channel of the ABC Elliot wave pattern at the price level of <1.28--
❇️ Trend Resistance R1: 1.3100
🛑 Trend Support S1: 1.2800
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