GBP/USD Price Analysis: Bulls engage at fresh bear cycle lows GBPUSD Currencies Technical Analysis
into an area of potential support but while on the front side of the bearish trend, the bears are in control and there are prospects of a downside continuation if the bears commit. The following illustrates a couple of scenarios that respect the dynamic resistance lines and also the horizontal support area: The market has corrected and the question is whether the bears are going to stay committed.and the 50% mean reversion resistance area that they could lean against.
On the flip side, if this area were to break, then the bulls will be taking over and the bullish schematic could unfold with the trendline resistance looking vulnerable. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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