Bearish outlook on GBPUSD: 14 September 2022
On the H4 timeframe, prices are facing bearish pressure from its resistance area of 1.175 in line with the 38.2% Fibonacci retracement . A break below the support zone at 1.142, in line with the 61.8% Fibonacci extension , presents an opportunity to play the drop to the 1.125 level in line with the 100% Fibonacci extension . Ichimoku Cloud is also showing bearish signs, supporting our bearish bias.