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The British pound fell into a downward trend and it is likely that this month will be a deepening of this currency pair. I have written many times about a situation where the chance of breaking a level increases when the price tests it several times, this is what we have in this case. I have marked on the H1 chart how many times investors have tested the support. This time, looking at other values, it is possible to break the hole and further decline.

In the second chart I showed a corrected channel which indicates that the price persists beyond the pattern. This proves that the sellers pressure is greater than the bulls who wanted to return to the upward trend.

1 Comment

  1. Hello there! This post could not be written any better! Looking at this
    post reminds me of my previous roommate! He constantly kept preaching about this.
    I’ll forward this information to him. Pretty sure
    he’s going to have a very good read. Thank you for sharing!

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