This trade steup on GBP/USD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 1.2377.
Related Posts
Important price line being approached by USD/CHF. This price has been tested numerous times before.
A strong support level has been identified at 0.8427 on the 1 hour USD/CHF chart. USD/CHF is likely…
Will USD/CAD break through the support level it tested before?
USD/CAD is moving towards a line of 1.3565 which it has tested numerous times in the past. We…
After testing 0.6174 numerous times, NZD/USD is once again approaching this price point. Can we expect a bearish trend to follow?
NZD/USD is moving towards a support line. Because we have seen it retrace from this level in the…