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FKW-Millions
Sep 17, 2023 3:06 PM

"Bearish Outlook: GBPUSD Descending Channel Analysis" Long

British Pound/U.S. DollarFXCM

Description

GBPUSD is still in Descending channel - bearish market, expected to fall towards support near $1.23100 before making retracement from broken support around 1.26070 - where we are likely to get the best trades (bears).

Considering the broken ascending channel on the Daily TF plus the small ascending channel on the lower 4H-1H time frames, this puts us in mind, it indicates more bears in the market.
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