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Mahtab_Tradia
Feb 24, 2021 5:17 PM

GBPUSD Daily Chart Analysis  

British Pound/U.S. DollarFXCM

Description

After a big rise, price has approached to one of the strong weekly resistances and got rejected. It’s been a long time that price has been away from the main trend line (Outer Trend line) and is moving on a new sharp trend line (Inner Trend line). There is a negative regular divergence in Weekly time frame which shows a decrease in upside pressure. IF the Inner trend line broken out to the downside, I expect a long-term fall in this pair until it reaches the Outer trend line and start growing again. Otherwise, in another scenario, price will rise to the next resistance level after touching the inner trend line and getting rejected by it.
Comments
Saif_R
Nice, This is what i am looking in gbpusd
abel11
Very resourceful, thanks for sharing.
VasilyTrader
Noted, thank you!
KlejdiCuni
Excellent, totally agree!
Zaks_ForexRules
Very Nice keep it up :)
Babenski
Good job
CobraVanguard
Good job 👍, thanks for sharing 😊
stay awesome matab jan
Fisher_Fx
Great work girl
jojofang0901
good outlook and breakdown, thx :)
FieryTrading
Have a similar view on this, perfect!
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