GBPUSD: Resistacne HIT 1.2560 Now Downside Correction Expecting.
The GBP/USD pair has made a new local high at the level of 1.2524 (there is a potential Bearish Engulfing candlestick pattern made at the top of this move as well).
The market has broken out of the ascending channel and the next target is seen at the level of 1.2588.
The momentum is still strong and positive, so odds for a local uptrend continuation after the range breakout are high. The last swing low and technical support is seen at the level of 1.2072, but there is still a long way to test this level of support. The nearest support is seen at the level of 1.2406.
On the GBP/USD pair, the main trend is downside currently market-moving upside as lockdown ended.
🛑SUPPORT/RESISTANCE
✅S1= 1.2450
✅S2= 1.2380
✴️R1= 1.2560
✴️R2=1.2680
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The market has broken out of the ascending channel and the next target is seen at the level of 1.2588.
The momentum is still strong and positive, so odds for a local uptrend continuation after the range breakout are high. The last swing low and technical support is seen at the level of 1.2072, but there is still a long way to test this level of support. The nearest support is seen at the level of 1.2406.
On the GBP/USD pair, the main trend is downside currently market-moving upside as lockdown ended.
🛑SUPPORT/RESISTANCE
✅S1= 1.2450
✅S2= 1.2380
✴️R1= 1.2560
✴️R2=1.2680
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.