GBPUSD- 04Mar2022
On the H4, GBP broke down from the triangle pattern with further downside target to around 1.30500. Price action is currently in sideway consolidation. We could expect it to drop lower to 1st Support at 1.32525.
On H1, the ascending trendline proves to be an effective resistance. If price bounces back to this trendline, we could expect bearish pressure from it.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the H4, GBP broke down from the triangle pattern with further downside target to around 1.30500. Price action is currently in sideway consolidation. We could expect it to drop lower to 1st Support at 1.32525.
On H1, the ascending trendline proves to be an effective resistance. If price bounces back to this trendline, we could expect bearish pressure from it.
This is for personal record purposes only, not financial advise or solicitation of trade.