GBPUSD pair recently (Sep 23, 2022) tested a very strong resistance level from February, 1985. For a short-term period, I am expecting further depreciation of GBP. It has formed Bearish Pennant Pattern and is expected to continue the downtrend. Now the pair is at the current resistance area in the graph, where it serves as a support level if it continues going up. but if it can not break this area, we can expect a further downtrend.
DISCLAIMER!!! I am not a financial advisor or have a license to provide such services. This idea is purely from my analysis and expectations from the current market trend. Trading in financial markets always involves capital loss (risk), and if you are using this idea you will be responsible for any risk associated with your trading/investing
DISCLAIMER!!! I am not a financial advisor or have a license to provide such services. This idea is purely from my analysis and expectations from the current market trend. Trading in financial markets always involves capital loss (risk), and if you are using this idea you will be responsible for any risk associated with your trading/investing
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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.