First support rests at 1.41, second support is 1.4050, third support level is seen at 1.40. Below 1.40 bears will try to push prices to multi-year low of 1.35. On the other hand, first resistance is seen at 1.42, second resistance level is seen at 1.4240 and third support level is 1.43.
Main trend remains bearish as price again entered into the downward channel seen best on daily chart.
Chart: GBP/USD H4
The pair seems unstoppable to the downside.
ReplyDeleteIt will probably continue falling.
ReplyDeleteIt will reach 1.40, I think.
ReplyDeleteExcellent analysis!
ReplyDeleteI think from Mondey it will start upward movement
ReplyDeleteI fully agree with your analysis.
ReplyDeleteThank you for the analysis.
ReplyDeleteInteresting levels to be watchful of, thanks for the info.
ReplyDelete