💷💵GBP/USD Where Do We Fall?💷💵

💷💵GBP/USD Where Do We Fall?

💷💵This post is a direct follow-up to my previous post in which I wrote about the possibility of a new downward wave:

💷💵As you can see, we are continuing to fall without any major obstacles.

💷💵I am still waiting for a real downward impulse to start.

💷💵I believe that over the next few weeks the direction as it has been taken in recent weeks will be maintained.

💷💵The support zone I expect the price to reach is around the 1.16 price level, where there is a cluster of multiple fibo levels. 0.382 wave from the low of 25.09.2022 to the current peak. The second level of the 1.272 wave from the bottom of 2001 to the peak of 2007. The level of the 0.886 wave from the bottom of 1985 to the peak of 1992.

💷💵The resistance zone is located around the recent bullish attack attempts.

💷💵Looking at the technical environment MACD, RSI I have no doubts about the continuation of the declines.

💷💵The scenario I am playing out is declines to the vicinity of the support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

💷💵*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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