#GBPUSD 21 04 2021
At the end of February, the price reversed from the strong resistance zone 1.416 where the lines of June 2018 and March 2013 intersect. After that, the price began to fall and formed a downward channel. Falling in this channel, the price came to the support line 1.375. This line was formed in April 2020 and is quite strong despite breakouts. Its strength was enough for the price to start a strong growth after touching it. As a result, the price was able to break through the border of the 1.389 channel. However, it is already clear that she turned around and return to the channel. I expect that the breakout will be false, the price will break the 1.388 support line again, fall and come to the 1.377 support line. This will be our goal.
At the end of February, the price reversed from the strong resistance zone 1.416 where the lines of June 2018 and March 2013 intersect. After that, the price began to fall and formed a downward channel. Falling in this channel, the price came to the support line 1.375. This line was formed in April 2020 and is quite strong despite breakouts. Its strength was enough for the price to start a strong growth after touching it. As a result, the price was able to break through the border of the 1.389 channel. However, it is already clear that she turned around and return to the channel. I expect that the breakout will be false, the price will break the 1.388 support line again, fall and come to the 1.377 support line. This will be our goal.