GBP/USD Technical Bear Hypothesis 300609 [No Core Consensus available]Current territory: GBP
Current Main Momentum: GBP
Current Zone: GBP
Main Resistance Materials: US inflation control, UK dependencies, UK export rejuvenate (Weak)
Main Support Materials: Constituents GBP prior Overbought MM, UK-US Economic similarity, and traders buying-in (Strong)
Issue: Price Testing Main Resistance
Valid observation:
• Possible bearish pivot point at <>1.6591ish (Daily/H4)
• Stop loss <>1.6883ish
• Possible price significant excess towards Target 1 at <>1.6296ish
Risk to Profit ratio: 1:1
Consensus: USD 0/1 bias
Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.
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