GBPUSD: down at the end of the trading week
Overall, the downtrend of GBPUSD continues mainly due to the strengthening of the British pound amid a weakening dollar index.
On H4, the price is approaching a strong breakout resistance zone. This zone has many confirmations, showing that this zone is very important for traders. The correction may end at the nearest strong level and there is a high possibility that the GBPUSD downtrend may continue.
Fundamentally and technically the market is showing weakness, so it would not be surprising if GBPUSD continues to decline, in the immediate future GU heads towards channel resistance, from where the downtrend could continue .
On H4, the price is approaching a strong breakout resistance zone. This zone has many confirmations, showing that this zone is very important for traders. The correction may end at the nearest strong level and there is a high possibility that the GBPUSD downtrend may continue.
Fundamentally and technically the market is showing weakness, so it would not be surprising if GBPUSD continues to decline, in the immediate future GU heads towards channel resistance, from where the downtrend could continue .
Trade active
