GBPUSD Downtrend
After a big drop, price started to rest in the ascending parallel channel, and as you see, currently it is facing a strong bearish pressure.
MACD shows a negative divergence: although price has made a lower high, MACD has made a higher high which indicates a downside move for the future.
I expect a drop on GBPUSD towards the channel’s lower level, and if it breaks the channel’s lower band, the next target would be around 1.23
MACD shows a negative divergence: although price has made a lower high, MACD has made a higher high which indicates a downside move for the future.
I expect a drop on GBPUSD towards the channel’s lower level, and if it breaks the channel’s lower band, the next target would be around 1.23
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.