British pound is ready for a new fall!

In last post, I drew your attention to the problem of the UK public debt.
The situation there is critical...

It is logical to expect that the problem with public debt will lead to a weakening of the pound.
High inflation, high key rate, high budget deficit relative to GDP are fundamental factors that will put pressure on the GBP.

According to technical analysis, the situation is also negative.
We saw a false exit of the GBP/USD pair beyond 1.24, and now we should expect a fall to the level of 1.18 - which is support.
If such a scenario is realized, a bearish “head and shoulders” pattern will form on the chart, which implies a further medium-term drop to 1.11.

You can find even more useful analytics in the header of my profile 🎩

If you are interested in parsing for other assets - write in the comments which asset you need to parse 🔍