GBPUSD: No Signs of Reversal, Downtrend Here to Stay?
Hey Realistic Traders, Is 
GBPUSD Downtrend Here to Say? Let's dive in
On the H4 timeframe, GBP/USD has consistently traded below the EMA-200 line, facing multiple rejections at this key level. We observed more than three attempts where the price tried to breach the EMA-200 but failed, reinforcing the continuation of the downtrend.
Adding to this bearish outlook, a breakout from a rising wedge and symmetrical pattern has occurred, both of which typically signal strong bearish momentum. Furthermore, the MACD indicator has formed a bearish crossover, providing additional confirmation of GBP/USD's downward trajectory.
Given these strong technical signals, I foresee a downward movement toward the target at Target 1.23640.
However, this bearish outlook hinges on the price maintaining below the critical stop-loss level at 1.26070.
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
"Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GBPUSD".
GBPUSD Downtrend Here to Say? Let's dive inOn the H4 timeframe, GBP/USD has consistently traded below the EMA-200 line, facing multiple rejections at this key level. We observed more than three attempts where the price tried to breach the EMA-200 but failed, reinforcing the continuation of the downtrend.
Adding to this bearish outlook, a breakout from a rising wedge and symmetrical pattern has occurred, both of which typically signal strong bearish momentum. Furthermore, the MACD indicator has formed a bearish crossover, providing additional confirmation of GBP/USD's downward trajectory.
Given these strong technical signals, I foresee a downward movement toward the target at Target 1.23640.
However, this bearish outlook hinges on the price maintaining below the critical stop-loss level at 1.26070.
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
"Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GBPUSD".
Trade active
Recent, U.S Dollar Index Symmetrical Triangle Breakout support our analysis of GBPUSD Bearish Outlook
Trade closed: target reached
Well, I am not expecting the pair will hit the target in one day :)
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Disclaimer
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Related publications
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.