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Stone_Haven

💡 GBPUSD: Forecast March 18

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
Stone_Haven Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Technical Indicators Fundamental Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal trendtrading Forex forextrading forexsignals Trend Line Break
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trendanalysis indicator fundamental gbpusd gbpusdshort gbpusdanalysis gbpusdsignal trendtrading forex forextrading forexsignals trendlinebreak
GBPUSD had its second consecutive down day after Friday, but the downward pressure weakened because Friday's D1 bar had a narrower range than the previous down D1 bar. The price inched down from the lower boundary of the Inside bar pattern, and if the bottom of this pattern is successfully broken, it is likely that GBPUSD D1 will decline further.

A small accumulation price range is forming at the lower border of the H1 GBPUSD price range. This type of accumulation around support can lead to a breakdown of the support. Today's GBPUSD H1 trend continues to lean towards selling, following the downward price trend in D1.
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