Libra Esterlina/Dólar Americano
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GBPUSD | Descending Channel Reformed

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Price produced a leg down and we got the new low for Descending Channel. So currently price is sitting on the lower boundary of the Descending Channel, in case we have a confirmed breakout of the lower boundary we can initiate a short position.

If there is a retracement to upward we can initiate a short position in case we have a confirmed rejection of either the Mid line of the Descending Channel or of the higher boundary of the one

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Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.

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