The GBPUSD price is currently moving bearishly towards a significant support zone highlighted in light red. Additionally, a bearish trend line has formed above the price line, indicating a sustained bearish pressure on the pair. This scenario suggests that the bears are in control of the market, and a further decline in price is likely. However, a trend reversal is expected in the near future, and traders should be on the lookout for any signs of a trend reversal. Specifically, traders can enter the market when the trend line above the price line is broken, indicating a shift in market sentiment from bearish to bullish. Overall, the GBPUSD price analysis suggests that the pair is currently in a downtrend, but traders should be cautious of a potential trend reversal and wait for a confirmation before taking any positions in the market.
• There is a resistance level at 0.83000 followed by resistance at 0.83900 and 0.84600
• There is a support level at 0.81900. Below, there is 0.81600 and 0.81380.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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