GBPUSD FALLING from strong RESISTANCE zone for FX:GBPUSD by Lingrid — TradingView


Analyzing this currency pair, we see that over the past few days the price has risen and got into the retracement zone of 1.351. This zone is made up of two lines. One of them is strong – educated in 2018. However, the second line of resistance is even stronger! To see it, open the weekly chart – the first touch of the line happened back in 2008 (!)

During this time, the price made only one breakdown of the line in 2016, after which the pair fell behind the line and since then has never been able to rise above this resistance line.

For several days the price moved between two lines in the resistance zone , and today it is clear that it could not break through the zone and began to fall. I expect it to continue falling, in which case we can talk about opening a sell deal.

So the final target I expect is the 1.317 support line.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻


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