GBP/USD downtrend continues with the close below W L4
|GBP/USD technical analysis
-
GBP/USD Continues down.
-
Below W L3 it’s bearish.
-
Close below W L4 for continuation.
H4 chart GBP/USD
1. Swing high.
2. Swing low.
3. Top of retracement.
4. Breakout.
5. Final target.
The GBP/USD is still bearish. We should see the move down below W L3. Continuation below W L4 1.3096. If market momentum holds we should see a 1.3039 test and below 1.2990 as the final target. The market below 1.3039 is very bearish and M L5 should be tested. W L5 is the final target. The first target is 1.6692, followed by 1.6598 the final target.
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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.