After a sharp decline in the US market last Friday, GBP/USD has managed to stabilize above 1.2400 on Monday.The short-term technical side fails to provide directional clues, and may only have to wait for the currency pair to break through the consolidation channel,only then will there be a better continuity of behavior.
https://www.tradingview.com/x/hKu7jPYN/
According to the current market structure, it may be more difficult for GBP/USD to continue to rise, and the daily line is expected to form a head-and-shoulder technical pattern, which will exert pressure on the future market structure and limit the technical upward space of GBP/USD; Moreover, the technical repair of the daily line is far from being in place, so GBP/USD is still in demand for a decline.
https://www.tradingview.com/x/rusqKdBg/
In the short term, pay attention to the resistance near 1.246 above.
https://www.tradingview.com/x/hKu7jPYN/
According to the current market structure, it may be more difficult for GBP/USD to continue to rise, and the daily line is expected to form a head-and-shoulder technical pattern, which will exert pressure on the future market structure and limit the technical upward space of GBP/USD; Moreover, the technical repair of the daily line is far from being in place, so GBP/USD is still in demand for a decline.
https://www.tradingview.com/x/rusqKdBg/
In the short term, pay attention to the resistance near 1.246 above.
Trade active
Currently GBP/USD is still running below 1.246Trade active
GBP/USD is expected to build a daily line-level right shoulder pattern
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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.