The GBPUSD has deteriorated sharply after breaching its 200 DMA to the downside. Over the past few sessions this pair has formed a bearish price channel as visible in this H4 chart. Currently the GBPUSD trades around the descending support line and has tried to form a bottom over the past two trading days. We expect this pair to rally into its descending resistance level before breaking out and into its 200 DMA. MACD has indicated bearish momentum and confirms the recent correction. We expect this indicator to be the last one to...
The GBPUSD has rallied from its strong support zone as visible in this D1 chart. This currency pair has now reached a very strong resistance zone and price action is currently trapped between the lower band of its resistance zone and its 200 DMA. A breakout into its resistance zone is possible and if this currency pair reaches the top of its zone it will also form a double top which is a bearish chart pattern. We expect this currency pair to correct before breaking out of its resistance zone; the correction should form a higher low...
