HelenP. I British Pound will break support level and fall lower

16 апр.

Hi folks today I'm prepared for you British Pound analytics. Some time ago price rebounded from the resistance level, which coincided with the resistance zone, and tried to rise, but failed and in a short time turned around and made a strong impulse down to the support level, breaking the 0.8570 level. After this movement, GBP turned around from the 0.8530 level and started to rise to the resistance level, and when it reached this level, the price broke it and even later reached the trend line. Next, the price broke this line, after which GBP turned around and started to decline near the trend line, thereby soon breaking the resistance level one more time. Some time later price tried to back up, but failed and continued to fall between the trend line until it reached the 0.8530 support level, which coincided with the support zone. After this, the price some time traded near this level and then bounced up to the trend line, but recently it rebounded from this line and fell back. Now, the British Pound continues to trades near the support level and I expect that it will reach the trend line again. Then GBP rebounded and declined to a lower support level, thereby breaking this level. For this case, I set my target at the 0.8520 level. If you like my analytics you may support me with your like/comment ❤️