GBPUSD ( INSIDE DESCENDING CHANNEL ) (4H)

Aug 5

GBPUSD

HELLO TRADERS

• Tendency, the price is under down ward pressure , until trade below turning level at 1.281 .
  
  
• Upward Zone : In order to see an increase, the price needs to break the turning level at 1.281 , to reach resistance levels (1) around 1.285 , then breaking resistance level (1) it indicates to reach of a resistance level (2) at 1.293 , then stabilizing above resistance level (2) indicates to reach of a resistance level (3) at 1.303 a strong resistance level inside strong supply zone .
  
  
• Downward Zone: Provided until the prices trade below the turning level, it indicates a reach of the support level (1) at 1.270, then breaking this level with a 4h or 1h open candle below is likely to reach the support level (2) at 1.262 , this two level called support zone it is very strong zone because inside accumulation area .
  
• Corrective level :Price may make a correction at 1.281 , before dropping .
  

TARGET LEVEL :

• RESISTANCE LEVEL : 1.285 , 1.293 , 1.303 .
  
• SUPPORT LEVEL : 1.270 , 1.262 .