RLinda ! GBPUSD-> Continuation of the fall from resistance

2023年1月4日

GBPUSD on the high timeframe breaks through strong support and begins to decline, thereby renewing the local minimums. What to expect next?

On the chart I have marked a downtrend, the price is testing the support zone and GBPUSD is strengthening. I assume that the price is headed towards the target of 1.20289 (volume density zone). This liquidity zone can be tested by a false breakdown, and the price should enter the resistance zone, from where the pound can continue its fall.

I assume that in the nearest future the price will enter the resistance zone, but will not be able to break through the resistance. I expect the decline from the level of 1.20289. Short-term target - support 1.19400, medium-term target - support 1.1878.

Regards, R.Linda!

2023年1月4日

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