RLinda ! GBPUSD-> testing the support zone. What's next?
GBPUSD on the chart clearly sees the downward price channel. The price will continue to be in a global bearish trend and it is logical to take the fact that the price will be in the channel for some time, as there are no preconditions to the break of this set-up.
Earlier, the price broke through the consolidation downwards, broke through the first target 1.176 and almost reached the second 1.1600. These levels matter and that is why the price reacts strongly.
I assume that in the near future we may see a pullback from the support zone, there are two key zones - the price channel support and the liquidity zone from the level of 1.1600. The short-term target is the resistance of 1.17600.
Regards R. Linda!
Earlier, the price broke through the consolidation downwards, broke through the first target 1.176 and almost reached the second 1.1600. These levels matter and that is why the price reacts strongly.
I assume that in the near future we may see a pullback from the support zone, there are two key zones - the price channel support and the liquidity zone from the level of 1.1600. The short-term target is the resistance of 1.17600.
Regards R. Linda!
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