Get started
OrtegaCapital

Bearish outlook on GBPUSD: 29 August 2022

British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
OrtegaCapital  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis
3
0
trendanalysis
On the H4 time frame, we are seeing a bearish order flow with prices facing bearish pressure from the resistance at 1.1900. Prices are currently testing a key support level 1.165, in line with the 100% Fibonacci extension and a break below this support zone at 1.1650 can provide the bearish acceleration to our next support target at 1.1480. Prices are holding below the Ichimoku Cloud as well, supporting our bearish bias to see further downside in prices.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.