GBPUSD: Sustaining the decline below 1.2400?
Dear traders, let's analyze and develop a strategy for GBPUSD together!
At the start of the new trading session, GBP/USD shows a downward trend, falling to 1.2400 with consecutive red candles and no signs of stopping. This occurs as the US dollar gradually strengthens following US President Trump's latest tax threats and growing concerns about a global trade war.
As noted on the 1-hour chart, GBPUSD remains below a crucial support level, which now acts as strong resistance. If price breaks above this threshold, GBPUSD will trigger a new bullish movement. Conversely, the price will decline further.
Based on my perspective, I'm betting on a downward expectation as GBPUSD continues to move below both EMA 34 and 89 lines, along with the descending Trendline.
Wishing you successful trading and profitable returns.
At the start of the new trading session, GBP/USD shows a downward trend, falling to 1.2400 with consecutive red candles and no signs of stopping. This occurs as the US dollar gradually strengthens following US President Trump's latest tax threats and growing concerns about a global trade war.
As noted on the 1-hour chart, GBPUSD remains below a crucial support level, which now acts as strong resistance. If price breaks above this threshold, GBPUSD will trigger a new bullish movement. Conversely, the price will decline further.
Based on my perspective, I'm betting on a downward expectation as GBPUSD continues to move below both EMA 34 and 89 lines, along with the descending Trendline.
Wishing you successful trading and profitable returns.
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✅ Trading knowledge
✅ Free trading signal support
Join the Tele group: t.me/+xT2uUeadoeo1YTRl
Join our community group to receive support for short Scalping orders and the latest trading strategies!
✅ Trading knowledge
✅ Free trading signal support
Join the Tele group: t.me/+xT2uUeadoeo1YTRl
✅ Trading knowledge
✅ Free trading signal support
Join the Tele group: t.me/+xT2uUeadoeo1YTRl
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