GBP/USD Technical Analysis: The Pound against the US dollar slides in a bearish channel

Denis Joeli Fatiaki Independent Analyst

The Pound against the US dollar continues its downtrend in the bearish price channel in the 60 minutes time frame but also provided lots of short-term trade opportunities through all the volatility running from both sides of the market. The Pound is now trading at 1.33607 sliding through the middle of the price channel towards 1.33514 support. We might see another blast to the upside if the Pound bounces at 1.33514 support. The support and resistance are projected at the following price level. resistance - 1.33944, 1.34072, 1.34184, 1.34302 support - 1.33514, 1.33414, 1.33304, 1.33148

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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