GBPUSD on the monthly chart is in a descending trend and after the price created a triple bottom on a monthly support is approaching the upper side of a weekly descending channel that is also near to a weekly resistance.
The possible future scenarios is that the price will break to the upside the weekly channel and approach the monthly discending trend line (purple)
On the other hand if the market will be rejected by the weekly resistance the price could go tested again and break the monthly support.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
The possible future scenarios is that the price will break to the upside the weekly channel and approach the monthly discending trend line (purple)
On the other hand if the market will be rejected by the weekly resistance the price could go tested again and break the monthly support.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.