GBPUSD- 24Feb2022
On the daily, price is looking to retest 50MA support around 1.3515.
On the H4, price dropped below 61.8% Fib support at 1.35450 and all 3 MAs. Overall, GBP is still consolidating in the parallel channel. With Stochastic having room to drop lower till support, we could expect GBPUSD to drop to 1st Support at 1.34930 before a bounce occurs.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price is looking to retest 50MA support around 1.3515.
On the H4, price dropped below 61.8% Fib support at 1.35450 and all 3 MAs. Overall, GBP is still consolidating in the parallel channel. With Stochastic having room to drop lower till support, we could expect GBPUSD to drop to 1st Support at 1.34930 before a bounce occurs.
This is for personal record purposes only, not financial advise or solicitation of trade.