1. Resistance Zone at 1.2950 – The price is facing strong resistance around this level, and the analysis suggests rejection.
2. Projected Downward Movement – The price is expected to drop toward 1.2860-1.2870.
3. Bearish Market Structure – The pattern indicates lower highs and lower lows, supporting a downside trend.
4. Fundamental Impact – The presence of U.S. economic data (indicated on the chart) might influence volatility and confirm the move.
Forecast for Monday:
If GBP/USD fails to break above 1.2950, a decline toward 1.2860-1.2870 is expected.
A breakout above 1.2950 could invalidate this bearish scenario and lead to further upside.
2. Projected Downward Movement – The price is expected to drop toward 1.2860-1.2870.
3. Bearish Market Structure – The pattern indicates lower highs and lower lows, supporting a downside trend.
4. Fundamental Impact – The presence of U.S. economic data (indicated on the chart) might influence volatility and confirm the move.
Forecast for Monday:
If GBP/USD fails to break above 1.2950, a decline toward 1.2860-1.2870 is expected.
A breakout above 1.2950 could invalidate this bearish scenario and lead to further upside.
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.