TimeWaveTrading

GBPUSD Trend Analysis update

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is also likely to decline after expanding for another week. The reason is that the lows are making weekly support key levels. In that case, it is a decline due to monthly resistance, so a bearish trend will form at least until the end of November or the end of the year. I expect a deep decline in the mid- to long-term because the GBPUSD must break weekly resistance and rise above that resistance in order to get on the bullish trend.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.