Firstly, the price has engulfed the Demand level of the 6-monthly time frame and we expect it to continue its downward movement from a higher level.
Secondly, in the above of chart we have a monthly Phillip Supply level, within which a weekly bearish gap can be seen.
Currently, the price has started an upward spike movement in the weekly time frame and after reaching the base flag, it is moving upward to reach the fourth and fifth steps.
At the same time, the monthly supply level is symmetrical with the sixth step of the weekly spike movement and could be the starting point of the main downward movement of the pound.
Secondly, in the above of chart we have a monthly Phillip Supply level, within which a weekly bearish gap can be seen.
Currently, the price has started an upward spike movement in the weekly time frame and after reaching the base flag, it is moving upward to reach the fourth and fifth steps.
At the same time, the monthly supply level is symmetrical with the sixth step of the weekly spike movement and could be the starting point of the main downward movement of the pound.