💷💵 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: Downtrend
📊 MACD: Uptrend
📊 RSI: Downtrend
💷💵 Price action: GBP/USD Strongly bounced off the key level of 1.195. As you can see, this is a significant point on the chart. Looking at the behavior of the price on higher intervals, one can expect a continuation of the downward movement with a possible occurrence of a short accumulation before further declines.
📉 The scenario I'm playing out is a continuation of declines. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm 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 read the description carefully.
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