DeGRAM | GBPUSD rebound from psychological level of 1.2500 Short

British Pound/U.S. DollarFXCM

Description

⋅ Apr 16, 2023 3:56 PM

GBPUSD is currently trading in an ascending channel. However, the market made a double top with divergence.

The market pulled back from the psychological level at 1.25000 and the channel's upper border.

If price breaks and closes below the support level and the channel's lower border, then it is likely to go down.

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Share your opinion in the comments and support the idea with like. Thanks for your support!

Comments

JoeChampion

⋅ Apr 17, 2023 3:01 PM

I agree on short term USD strength, thanks!

FOREXN1

⋅ Apr 17, 2023 1:10 PM

Thanks for sharing , Interesting scenario . I think price may have a Drop here.

ProjectSyndicate

⋅ Apr 17, 2023 11:43 AM

excellent overview of key s/r levels on your chart

FirstNameHelen

⋅ Apr 17, 2023 4:26 AM

Thank you for your gbpusd analysis

abdulHaseeb

⋅ Apr 17, 2023 2:36 AM

Hello DeGRAM, I would like to ask one thing from you that made you believe that the market may go up till 1.2450 and then go down instead of going to upper trend line of the ascending channel.

Leumas_XErof

⋅ Apr 16, 2023 9:11 PM

Wow great bro

basictradingtv

⋅ Apr 16, 2023 5:39 PM

could be possible, thanks!

vf_investment

⋅ Apr 16, 2023 5:20 PM

supportive as always, thanks!

mwas_peter

⋅ Apr 16, 2023 4:44 PM

what is the timeframe

Why44

⋅ Apr 16, 2023 8:02 PM

@mwas_peter, it’s the 4 Hour time frame