GBPUSD 4H :Still show bearish tendency
GBPUSD
New forecast
The pound sterling pair against the dollar is trading positively, surpassing the 1.2110 level and settling above it, but we notice that the price is showing clear saturation in buying now, which supports the chances of returning to the decline and resuming the negative scenario suggested in our recent reports, whose next target is at 1.2062, and by breaking it, it will reach 1.2016 , to confirm the bearish trend should stable under 1.2106 and then will drop .
The 50 moving average is putting negative pressure on the price to support the continuation of the expected downward trend, keeping in mind that breaching 1.2156 will stop the proposed decline and push the price to achieve more gains in the immediate term. so our target will be activate when the price can stability under 1.2106.
The expect range trading for today it will be between the resistance line 1.2156 and support line 1.2062.
Additionally ,Today News will affect the market .
support line : 1.2106 , 1.2062
resistance line : 1.2155 , 1.2192
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 pound sterling pair against the dollar is trading positively, surpassing the 1.2110 level and settling above it, but we notice that the price is showing clear saturation in buying now, which supports the chances of returning to the decline and resuming the negative scenario suggested in our recent reports, whose next target is at 1.2062, and by breaking it, it will reach 1.2016 , to confirm the bearish trend should stable under 1.2106 and then will drop .
The 50 moving average is putting negative pressure on the price to support the continuation of the expected downward trend, keeping in mind that breaching 1.2156 will stop the proposed decline and push the price to achieve more gains in the immediate term. so our target will be activate when the price can stability under 1.2106.
The expect range trading for today it will be between the resistance line 1.2156 and support line 1.2062.
Additionally ,Today News will affect the market .
support line : 1.2106 , 1.2062
resistance line : 1.2155 , 1.2192
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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