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RLinda
Sep 20, 2022 8:59 AM

RLinda ! GBPUSD-> False breakdown or keep falling? Long

British Pound/U.S. DollarFXCM

Description

GBPUSD price is testing the global lows. On the chart we see a formed price channel and a retest of the support zone. What's next?

The global situation is developing as follows: we see the formation of a "descending wedge" pattern at a breakdown of which we may see an uptrend, but this is the development of the situation in the long term. Now we should pay attention to the level of 1.145

I assume that a false break-down of the support level 1.145 (global level) may be formed now, and after the price consolidates above the level (actual fixation in the long zone), we may see the growth. The short-term target is resistance at 1.1600, the medium-term target is resistance at 1.1760.

Regards to R. Linda!
Comments
melikatrader94
fantastic analysis, keep going
Takie_eddine
in my opinion, it keeps falling
alinaser93
It lost
RLinda
ArmanShabanTrading
It's possible 👍🏼 your chart is beautiful 😍🤝🏻😁
AtlasTrades
exceptional pound analysis, thanks brother, It's very useful
YMGroup
thanks for sharing your great gbpusd idea, I agree with you
Mihai_Iacob
Gbpusd price could break the support of 1.14 and drop even more -- 1.1 I'd say. Time will tell.
SwallowPremium
Absolutely agree with your opinion!!
HAMED_AZ
Good job
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