The pound successfully reached the first bearish target at 1.2476. The price reached the support/resistance range at the end of April and the third week of May. Going under the 1.2436/76 range will open the 1.2250 target. It is very likely that the price will break through the support range to coincide with the transition of the Marlin Oscillator on the daily chart into the downward trend zone. Visually, this will take a day.
On the four-hour chart, the price is gathering strength to overcome the support level of 1.2476. The price is likely to move into the 1.2436/76 range and consolidate in it. Consolidating below 1.2436 will give impetus to a new wave of decline towards 1.2250 (June 2020 low).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
