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GBPUSD Technical Overview H4 Time Frame

GBPUSD Technical Overview H4 Time Frame

Indicators:

Moving Averages: Below all MAs + Bearish Golden Cut

CRVWATR: Low – Potential Downside Rooms –

Triple RSI: Bearish

MFI: Overbought to Neutral – Bearish-

20 Period Volatility: Increasing in favor of Bears.

50 Period Volatility: Low

Harmonic Summary: Emerging Bullish Three Drives 1.29000 – 1.28700 for Long Opportunity. – We will send notification –

Fundamental Weight: Bearish near term. – Increasing BoE Rate Cut Expectations –

Summary:

Cable is under bearish pressure near term.  Potential Bearish Triangle breakout at 1.29700 would add weight to the pair.

Below 1.29700, 1.29390 and 1.29080 are the next targets of the pair.

The first buying opportunity is a potential bullish three drives pattern in 1.29080-1.28700 zone.

Long term buying opportunity is the bullish breakout of the descending channel.

We keep our short positions targeting 1.29080. Additional short opportunity is the breakout of 1.29700 – triangle breakout-

We will update the live charts as soon as we see a clear change in the trend.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses, and costs associated with investing, including total loss of principal, are your responsibility

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