Support Resistance Analysis Says Sell GBPUSD In Coming Year
For years GBPUSD has been testing its lows. Since 2007 a huge drop has been seen in 2016. Where it has consolidated between 1.22396 and 1.36845. Recently in August of 2022. For many, we could see this potential drop, while others expected a pullback and continuation of the sideways move.
Let's look at what actually happened. The lower resistance zones around 1.22396
was clearly broken in the month of August 2022. In December GBPUSD retested the previous resistance.
The prediction based on this is a short/bearish movement. Since this is a never seen low, I can not identify how far it may drop.
Let's look at what actually happened. The lower resistance zones around 1.22396
was clearly broken in the month of August 2022. In December GBPUSD retested the previous resistance.
The prediction based on this is a short/bearish movement. Since this is a never seen low, I can not identify how far it may drop.