FX.co ★ GBP/USD

GBPUSD 1-Hour Analysis: Instead of moving in a bullish manner, we are lowering the pair. In this instance, we have a shift in direction toward a decline, and I believe that this kind of event is well-planned. They could reach 1.32635 in the event of a pound increase, but I don't think this vector is actually being constructed because plans for a downward direction seem more plausible. It is obvious that the vector along the bullish vector does not continue, but bearish players are still in control of the situation despite the market's obvious confusion. Everything from this side will be shown in the following session of the daily period; if it turns out that they do not go over to the price increase, we will reveal the southern direction. The primary barrier to the pound's descent is the breach of the support level of 1.32035, which will occur concurrently and prevent bears from passing. Following this breakdown, the downward movement occurs. For this currency pair, GBP/USD, I switched to one of the higher timeframes, H4, during the American trading session last night. I stressed that when I switched to the Asian session, two bullish and bearish absorptions were left using the price action method, which means that the above patterns literally collided head-on. As of right now, I can state that the bears received an additional 45 points in addition to everything, which you yourself fully understand since such a time is involved; for obvious reasons, they worked on the Fibonacci grid target level of 61.8. We'll see how further trading events will unfold for scalping enthusiasts.