RLinda ! GBPUSD-> The downward break of the TrendLine. Falling?

24 de out. de 2022

GBPUSD is forming a downward price exit from the ascending price channel. The trading session opens with a slight decline in the currency pair by 0.70% to 1.1318


In terms of technical analysis, we see a price exit from the formal ascending price channel, the weak boundaries may speak of the multi-valued further direction. The price is currently trading in a sideways range between 1.14900-1.09300. the price rests on the limit zone 1.14500-1.14900 and consolidates under the resistance zone, which may open further potential for a fall towards support

I assume that since the price is fixed under the previously broken line, which indicates a bearish market sentiment, then in the short and medium term, there may be a fall, I remind you that the global trend - bearish

• Short term target - support at 1.11000
  
• Medium-term target - liquidity area 1.09310

Regards R.Linda!