GBPUSD Technical Overview H4 Time Frame
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 –
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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