GBP/USD-1 Hour analysis
Hello everybody!
-On this pair we all can see that price was moving strong bearish yesterday,price break trough resistance line(purple circle) and now price break trough support line(purple circle).
-Now the price gained some bullish momentum and now we can try to see will it retest on previous support line(yellow circle) that now become resistance line.
-Also price may not retest new resistance line because price in falling,...But we will wait and see what will happen.
-GBP is still weaker on daily base and USD is stronger,we may expect that price is going to retest and then to continue to go in bearish direction,...
-You can put 8 period EMA to track moving of the price,if price breaks trough 8 period EMA then the trend may change in opposite direction(use 1 hour time frame)
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On this pair we all can see that price was moving strong bearish yesterday,price break trough resistance line(purple circle) and now price break trough support line(purple circle).
-Now the price gained some bullish momentum and now we can try to see will it retest on previous support line(yellow circle) that now become resistance line.
-Also price may not retest new resistance line because price in falling,...But we will wait and see what will happen.
-GBP is still weaker on daily base and USD is stronger,we may expect that price is going to retest and then to continue to go in bearish direction,...
-You can put 8 period EMA to track moving of the price,if price breaks trough 8 period EMA then the trend may change in opposite direction(use 1 hour time frame)
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
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