#GBPUSD Hello Traders and Subscribers, Welcome and thank you for taking time to check my view on this pair....
Fundamental Commentary === With indecision hanging around the overall market environment due to rising inflation figures in major economy driven country around the globe and the local conflict in Ukraine which has bring about strict trade rules which in turn escalated into shortage of food and gas around the EUROZONE, it would be quite surprising if the brunt of the economy is been felt by citizenry and it CURRENCY do not have an equal share in it suffering. Tensed political atmosphere could also be considered a factor for the winter on GBP cross pair..
Technical Commentary=== GBPUSD has been trading in a downtrend for a while now and creating series of LL and LH. Recently price broke a strong horizontal historical support level of May2020 around price range of 1.20874. And retested it on an intraday timeframe which signals further move down that resulted into violation of a low of 3yrs around price range of 1.18865 and presently price has retested the broken level and Price is trading within a falling parallel trend line. I expect further move down to price area of 1.1471 which is the low of 2020.
Fundamental Commentary === With indecision hanging around the overall market environment due to rising inflation figures in major economy driven country around the globe and the local conflict in Ukraine which has bring about strict trade rules which in turn escalated into shortage of food and gas around the EUROZONE, it would be quite surprising if the brunt of the economy is been felt by citizenry and it CURRENCY do not have an equal share in it suffering. Tensed political atmosphere could also be considered a factor for the winter on GBP cross pair..
Technical Commentary=== GBPUSD has been trading in a downtrend for a while now and creating series of LL and LH. Recently price broke a strong horizontal historical support level of May2020 around price range of 1.20874. And retested it on an intraday timeframe which signals further move down that resulted into violation of a low of 3yrs around price range of 1.18865 and presently price has retested the broken level and Price is trading within a falling parallel trend line. I expect further move down to price area of 1.1471 which is the low of 2020.