Forex Analysis – GBP/USD Technical Analysis – 19 September 2022

Forex Analysis – GBP/USD Technical Analysis – 19 September 2022

Forex Technical Analysis

GBPUSD Technical Analysis: Weekly Chart

GBP/USD Technical Analysis

In the weekly charts, GBPUSD is trading in a down channel. GBPUSD is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.13200 the resistance level is at 1.14200.

GBPUSD will trade in a down channel until there is a trend reversal. 

GBPUSD Technical Analysis: Daily Chart

GBP/USD Technical Analysis

In the daily charts, GBPUSD was trading in a down channel. GBPUSD is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.13500 the resistance level at 1.14100

GBPUSD was traded in a down channel before there is an upside breakout.

How to Trade GBPUSD this Week:

GBPUSD will follow the downtrend until its trend reversal. So, remain bearish on GBPUSD

TRADE SUGGESTION- SELL AT 1.13823, TAKE PROFIT AT 1.13500 AND STOP LOSS AT 1.14100.

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