Hello everyone,
GBPUSD 4H NEW FORECAST
The GBP/USD price found strong support at the 1.2580 level.
It shows some upward bias and is approaching a retest of the broken neckline of the double top pattern shown on the chart.
The 50 moving average forms negative pressure against the price, to support the chances of continuing the bearish corrective trend, whose...
📉 Expecting bearish price action on GBPUSD as price takes out all the buy side liquidity on it's way, rejecting a bearish orderblock on the H1 and left a lot of bullish imbalances that should be filled ASAP.
What do you think ? Comment below..
The long range Weekly TF looks ever more BEARISH for the GBP. The TDI sees the RSI crossing south over the upper volatility band and the signal line. From here a move back to the market line looks inevitable and this means this pair (and all GBP pairs) are likely to be headed lower. The DTF seems to confirm the BEARISH picture with price over 200 pips off recent...
GBPUSD is in a rising wedge pattern and is looking at a retest of 1.2615.
1.2500 looks key and as long as we remain above this level we should move higher.
Under 1.2500 turns the picture BEARISH for a potential move back to 1.2380.
