GBPUSD 4H : The news will lead the price
GBPUSD
OUTLOOK
Despite expectations that the Bank of England will confirm tomorrow that it will stop tightening its policy, which was the reason for the recent collapse of the price of the British pound against the US dollar (GBP/USD) to the support level of 1.2368, its lowest in three months. Yesterday, it tried to rebound higher, but its gains did not exceed the resistance level of 1.2425, and it stabilized around the level of 1.2390.
Technical Abstract :
The price perfectly fulfills my last idea .
The pound sterling pair against the dollar continues to fluctuate around the 1.2400 level, and stabilizes below it, waiting for the resumption of the bearish wave, whose next main target is at 1.2310.
The descending channel supports the continuation of the bearish wave in the longer term and the trend towards achieving negative targets that exceed the level mentioned above, with a reminder that breaching 1.2442 will lead the price to rise in the immediate term .also stabilized above 1.2400 will support the price to visit 1.2442 and then drop .
Additionally ,Today news will affect the market directly so manage your account carefully .
support line : 1.2380 , 1.2310 ,
resistance line : 1.2400 , 1.2442
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Despite expectations that the Bank of England will confirm tomorrow that it will stop tightening its policy, which was the reason for the recent collapse of the price of the British pound against the US dollar (GBP/USD) to the support level of 1.2368, its lowest in three months. Yesterday, it tried to rebound higher, but its gains did not exceed the resistance level of 1.2425, and it stabilized around the level of 1.2390.
Technical Abstract :
The price perfectly fulfills my last idea .
The pound sterling pair against the dollar continues to fluctuate around the 1.2400 level, and stabilizes below it, waiting for the resumption of the bearish wave, whose next main target is at 1.2310.
The descending channel supports the continuation of the bearish wave in the longer term and the trend towards achieving negative targets that exceed the level mentioned above, with a reminder that breaching 1.2442 will lead the price to rise in the immediate term .also stabilized above 1.2400 will support the price to visit 1.2442 and then drop .
Additionally ,Today news will affect the market directly so manage your account carefully .
support line : 1.2380 , 1.2310 ,
resistance line : 1.2400 , 1.2442
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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