The GBPUSD pair has been trading within a 1-month Channel Down pattern since the September 23 rejection on its 4H MA200 (orange trend-line). In fact, we are currently on the third Bearish Leg of this pattern, all of which have been initiated by 4H MA200 rejections.
We expect the price to target at least 1.3250, where it might technically rebound due to the presence of the 1D MA200 (red trend-line). If it breaks though, we can see a -2.07% standard Bearish Leg extension to 1.32000, which would make a perfect technical Lower Low at the bottom of the Channel Down.
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We expect the price to target at least 1.3250, where it might technically rebound due to the presence of the 1D MA200 (red trend-line). If it breaks though, we can see a -2.07% standard Bearish Leg extension to 1.32000, which would make a perfect technical Lower Low at the bottom of the Channel Down.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.