GBP/USD-1-hour analysis
Hello everyone!
-On a 1-hour time frame chart, we can see that the price is moving in a descending channel.
-We can see that bears are in strong control over this pair.
-The price is sitting at the support line of a descending channel and the price is also touching lower band of Bollinger indicator.
-This might be an opportunity to buy BUT right now GBP is very weak on a 4-hour,8-hour, daily and weekly base but on 1-hour base GBP is gaining some power while USD is losing some power.
-I expect further bearish movement because USD is a very strong currency these days.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 1-hour time frame chart, we can see that the price is moving in a descending channel.
-We can see that bears are in strong control over this pair.
-The price is sitting at the support line of a descending channel and the price is also touching lower band of Bollinger indicator.
-This might be an opportunity to buy BUT right now GBP is very weak on a 4-hour,8-hour, daily and weekly base but on 1-hour base GBP is gaining some power while USD is losing some power.
-I expect further bearish movement because USD is a very strong currency these days.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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.
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.