The GBP/USD currency pair has formed a double top pattern with a divergence on the MACD indicator, which has been confirmed. The price is currently heading towards the neckline, which is the key level of 1.18550. At this level, there are several factors that may provide support, including the 200-day moving average, the ascending weekly trendline, and the 23.60 Fibonacci level.
There is a high likelihood that the price may bounce off this zone of support, but if it breaks through 1.18550, it will be considered a sell signal.
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There is a high likelihood that the price may bounce off this zone of support, but if it breaks through 1.18550, it will be considered a sell signal.
Follow My Telegram Channel for Up-to-Date Buy/Sell Signals Based on This Analysis “frx_experts”
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Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
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