28.06.2021 01:50 PM
On Monday, a channel bearish pattern was spotted. The pattern was formed after the price had passed the resistance at 1.3940. It is now testing the 1.4000 mark. In the meantime, note that the pattern's upper trend line was being strengthened by the resistance of the 200-hour simple moving average.
If the pattern's resistance holds on Monday, the price would decline to the support of the weekly simple pivot point at 1.3892. In the case of the pivot point being passed, the GBP/USD pair would have no support, except the lower trend line of the channel bearish pattern.
On the other hand, a break of the resistance of the pattern could result in the pair once again testing the 1.4000 mark. Note that the 1.4000 mark was being strengthened by the resistance of the weekly R1 simple pivot point at 1.3997.
You have already liked this post today
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
