GBPUSD Analysis
GBPUSD at the lower high area of the downtrend line in the higher timeframe weekly chart
In the 4-hour timeframe, GBPUSD has broken the horizontal support area
After the confirmation of the Downward movement, the GBPUSD Sell signal was given.
GBPUSD Update
GBPUSD is trying to retest and consolidate at the broken horizontal support area, which leads to the SL price. However, GBPUSD still have chance to fall from the horizontal support area
Reason : Due to the release of more Economic news mentioned below, the market is not making technical movement for now.
U.S. Crude Oil Inventories
U.S. 10-Year Note Auction
Please note In the forex market, technical works 80% of the time, and fundamental works 20% of the time. This time fundamental wins. Be patience and wait for the next good opportunity signal.
We always want you to trade safe under all market conditions.
Don’t trade all the time, trade forex only at the confirmed trade setups.
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