#GBPUSD 24 03 2021
This week we have seen a strong price collapse from the resistance line 1.393. This line appeared on the chart in December 2020. During its existence, there was one strong breakdown, but after its completion, the price fell again, returned behind the line and continued to fall to support. Now the price is not far from the strong support zone of 1.367. This zone formed at the intersection of two lines. One of which has existed since September 2020, and the second since April 2010! Therefore, I expect the price to rise from this zone and come to the resistance line. This will be our goal.
This week we have seen a strong price collapse from the resistance line 1.393. This line appeared on the chart in December 2020. During its existence, there was one strong breakdown, but after its completion, the price fell again, returned behind the line and continued to fall to support. Now the price is not far from the strong support zone of 1.367. This zone formed at the intersection of two lines. One of which has existed since September 2020, and the second since April 2010! Therefore, I expect the price to rise from this zone and come to the resistance line. This will be our goal.