GBPUSD 4H : testing the support zone
GBPUSD
New forecast
The pound sterling pair against the dollar rebounded strongly after approaching the 1.2192 level, exceeding the moving average of 50 and settling below it, which provides indications that the price is heading back to the main bearish path again.
Therefore, we prefer to remain neutral until we get a clearer signal for the next direction, noting that breaking the support 1.2106 will put pressure on the price to achieve additional declines and target the 1.2062 areas initially, while failing to break the support 1.2106 is the key to reactivating the bullish corrective wave whose targets start at 1.2155. It extends to 1.2192 after surpassing the previous level.
The expect range trading for today it will be between the resistance line 1.2155 and support line 1.2106.
Additionally ,Today News will affect the market .
support line : 1.2122 , 1.2106
resistance line : 1.2155 , 1.2192
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The pound sterling pair against the dollar rebounded strongly after approaching the 1.2192 level, exceeding the moving average of 50 and settling below it, which provides indications that the price is heading back to the main bearish path again.
Therefore, we prefer to remain neutral until we get a clearer signal for the next direction, noting that breaking the support 1.2106 will put pressure on the price to achieve additional declines and target the 1.2062 areas initially, while failing to break the support 1.2106 is the key to reactivating the bullish corrective wave whose targets start at 1.2155. It extends to 1.2192 after surpassing the previous level.
The expect range trading for today it will be between the resistance line 1.2155 and support line 1.2106.
Additionally ,Today News will affect the market .
support line : 1.2122 , 1.2106
resistance line : 1.2155 , 1.2192
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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