#GBPUSD (Pound / US Dollar)
💸 #GBPUSD (Pound / U.S. Dollar)
🕓 Time Frame: 4-hour Chart/Close
🔽 Status: Bearish
📆 10/07/2024
Analysis:
The GBP/USD chart on the 4-hour timeframe, we observe that the price started to rise exactly as expected from the specified area, achieving a gain of over 170 pips and reaching the supply zone at 1.28470. After reaching this zone, the price experienced a correction and is currently trading around 1.27840.
Key Observations:
Initial Rise: Price increased by over 170 pips, reaching the supply zone at 1.28470.
Correction: After hitting the supply zone, the price corrected and is now around 1.27840.
Bearish Outlook: The current correction suggests a continued decline, with expectations for the price to reach lower levels soon.
Conclusion:
The GBP/USD pair shows a bearish outlook in the short term, with the price likely to continue its decline after the recent correction.
🕓 Time Frame: 4-hour Chart/Close
🔽 Status: Bearish
📆 10/07/2024
Analysis:
The GBP/USD chart on the 4-hour timeframe, we observe that the price started to rise exactly as expected from the specified area, achieving a gain of over 170 pips and reaching the supply zone at 1.28470. After reaching this zone, the price experienced a correction and is currently trading around 1.27840.
Key Observations:
Initial Rise: Price increased by over 170 pips, reaching the supply zone at 1.28470.
Correction: After hitting the supply zone, the price corrected and is now around 1.27840.
Bearish Outlook: The current correction suggests a continued decline, with expectations for the price to reach lower levels soon.
Conclusion:
The GBP/USD pair shows a bearish outlook in the short term, with the price likely to continue its decline after the recent correction.
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.