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The GBPUSD pair has been moving within the depicted bearish channel since July.
Bearish extension took place towards 1.3220 where the lower limit of the current movement channel came to meet with Fibonacci level.
Shortly after, BUYERS were watching the price levels of 1.3730 to have some profits off their trades as it stood as a key-resistance which offered significant bearish rejection recently.
The short-term outlook turned bearish when the market went below 1.3600. This enhanced the bearish side of the market towards 1.3400 which brought the pair back towards 1.3600 for another re-test.
Hence, the recent bullish pullback towards 1.3600 should have been considered for SELL trades as it corresponded to the upper limit of the ongoing bearish channel.
It's already running in profits. Bearish persistence below 1.3090 was needed to enable further downside continuation towards 1.2900 (the lower limit of the movement channel).
Bullish rejection was manifested around 1.3000, please note that bullish breakout above 1.3280 will probably enable quick bullish advancement towards 1.3400 and probably 1.3600.
Otherwise, another bearish breakout below 1.3090 will probably enable more bearish extensio at least towards 1.2890.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
