GBPUSD 4H Breaking

GBPUSD

stabilizing above 1.2172 will support rising to touch 1.2251 then 1.2322 then 1.2417

stabilizing under 1.2172 will support falling to touch 1.2122 then 1.2072


pivot price: 1.2172
Resistance prices: 1.2251 & 1.2322 & 1.2417
Support prices: 1.2122 & 1.2072 & 1.2037




timeframe: 4H

Comment:

The pound sterling pair against the dollar was unable to exceed the moving average 50, to trade with noticeable negativity and began to put pressure on the pivotal support level 1.2172 . By closely looking at the chart, we find that the price forms a head and shoulders pattern whose confirmation level is located at the aforementioned support, which means that breaking it will constitute an incentive. Negative. We expect the price to push to achieve negative targets starting at 1.2072 and extending to 1.2037 .


The general trend expected for today: bearish