InvestMate 💷💵 GBP/USD When Will the Uptrend Continue? 💷💵

💷💵 GBP/USD When Will the Uptrend Continue?

💷💵 Nearest strong support zone: around the 0.382 fibo level of the downward wave.

💷💵 Nearest strong resistance zone: around recent peaks.

💷💵 Technical environment:

📊 Moving averages: 50/50

📊 MACD: Downtrend

📊 RSI: Downtrend

💷💵 Price action: GBP/USD has been scoring a downward correction of its uptrend since January 20. The question is where can we see the possible end of the correction? It looks like the ideal test point would be the nearest significant support level, which has been repeatedly tested in the past. If the price will fall to this level for the next week. I encourage you to watch for possible reactions once we get there.

📉 The scenario I am playing out is a continuation of declines to the vicinity of the support level, after which I expect the uptrend to continue. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.

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