GBPUSD 4H : Support further decline
GBPUSD
New forecast
The British pound against the dollar pair finds it difficult to stabilize below the 1.2141 level, trading positively and testing the moving average 50 again, which forms a continuous resistance against the price, waiting to stimulate the price to resume negative trading and break the mentioned level to rush towards the 1.2106 levels and then 1.2016 as the next main targets.
Therefore, we will continue to favor the downward trend for the coming period, provided that the price maintains its stability below the 1.2216 level also its possible to retest to 1.2216 and the drop again .
The expect range trading for today it will be between the resistance line 1.2216 and support line 1.2106.
support line : 1.2141 , 1.2106
resistance line : 1.2192 , 1.2216
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The British pound against the dollar pair finds it difficult to stabilize below the 1.2141 level, trading positively and testing the moving average 50 again, which forms a continuous resistance against the price, waiting to stimulate the price to resume negative trading and break the mentioned level to rush towards the 1.2106 levels and then 1.2016 as the next main targets.
Therefore, we will continue to favor the downward trend for the coming period, provided that the price maintains its stability below the 1.2216 level also its possible to retest to 1.2216 and the drop again .
The expect range trading for today it will be between the resistance line 1.2216 and support line 1.2106.
support line : 1.2141 , 1.2106
resistance line : 1.2192 , 1.2216
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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