Support - S1 : 1.4195 | S2 : 1.4135 | S3 : 1.4019
Resistance - R1 : 1.4372 | R2 : 1.4488 | R3 : 1.4548
Main Trend - Bearish
Intraday Trend - Bearish
The exchange rate GBPUSD accept very strong pressure all these days, as we can see on the 4H chart of forex technical analysis. On Friday price finally, close inside lower channel of Andrew's Pitchfork exactly on the bottom line. Is very clear that the price remains below EMA(50) and EMA(200). This point is critical for the next move because right now is acting as support.
We must consider that there are Bullish Harmonic Patterns on 1H, 4H, and Daily chart.
An upward reaction is possible, but in any case, we must filter the move in order to be sure that is a real and valid reaction.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:
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Resistance - R1 : 1.4372 | R2 : 1.4488 | R3 : 1.4548
Main Trend - Bearish
Intraday Trend - Bearish
The exchange rate GBPUSD accept very strong pressure all these days, as we can see on the 4H chart of forex technical analysis. On Friday price finally, close inside lower channel of Andrew's Pitchfork exactly on the bottom line. Is very clear that the price remains below EMA(50) and EMA(200). This point is critical for the next move because right now is acting as support.
We must consider that there are Bullish Harmonic Patterns on 1H, 4H, and Daily chart.
An upward reaction is possible, but in any case, we must filter the move in order to be sure that is a real and valid reaction.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:
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