Lingrid

GBPUSD touched RESISTANCE zone. Next - FALL

Short
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
In September 2020, the price fell to the support line 1.268 and started to rise from this point. As a result, this line became one of the main lines correcting price movement in an uptrend.

Over the past months, the price has increased, moving between the two lines and has now come to the resistance zone of 1.370. This zone began to form in early January at the highs of the price. It prevents the price from moving up to the resistance trend line .

That said, this trend line - which appeared in March 2020 - gives the price additional resistance and is another reason to expect a fall.

As a result, I expect that from the 1.370 resistance zone , the price will reverse and fall back to support. And our goal in this case is the support line 1.357.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
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Comments

wrong. it's pierce thru resistance and turning resisstance into support
+2 Reply
Lingrid ys072090
@ys072090, hmm🤔
+1 Reply
thankz ,,, your analysis is wealthy,, keep it up.
Reply
well done, thanks for sharing this one Lingrid :)
Reply
Lingrid FXtrades-gp
@FXtrades-gp, you`re welcome)
Reply
I will follow u thanks
Reply
Lingrid jusliana
@jusliana, welcome)
Reply
A positive head and shoulders pattern has been formed ,it might not fall)
Reply
Lingrid msameer
@msameer, ok
Reply
good!
Reply
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