Hello friends, I hope you are well
Reasons for the downward movement of the pound:
1. The triangle at the end of the trend is broken from the bottom side and it can be called as a trend continuation flag.
2. The dollar is strong at key support and buying expectations are rising, pushing the pound lower.
3. After breaking the chart, the price of the pound moved up and it can be called a rest and entry point.
4. The British economic situation shows almost no resistance to the fall of the pound.
SL (1.136)
TP1 (1.098)
TP2 (1.07)
TP3 (1.046)
Good luck.
Reasons for the downward movement of the pound:
1. The triangle at the end of the trend is broken from the bottom side and it can be called as a trend continuation flag.
2. The dollar is strong at key support and buying expectations are rising, pushing the pound lower.
3. After breaking the chart, the price of the pound moved up and it can be called a rest and entry point.
4. The British economic situation shows almost no resistance to the fall of the pound.
SL (1.136)
TP1 (1.098)
TP2 (1.07)
TP3 (1.046)
Good luck.
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