GBP/USD analysis for July 28, 2023 – Potential end of the upside swing nad further drop
July 28, 2023 4:22 pm
Technical analysis:
GBP/USD has been trading upside today but I found potential completion of the correction and double top formation, which is good sign for the further downside movement.
Due to the drop in the background and weak rally that is active, I see potential for the downside continuation towards lower references.
Downside objectives are set at the price of 1.2810 and 1.2770
MACD oscillator is showing weak buying power and bearish divergence, which is another sign for the further downside continuation.
Resistance is set at the price of 1.2885
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been trading upside
today but I found potential completion of the correction and
double top formation,
which is good sign for the further downside movement.
Due
to the drop in the background and weak rally that is active, I see
potential for the downside continuation towards lower references.
Downside objectives are
set at the price of 1.2810
and 1.2770
MACD
oscillator is showing weak buying power and bearish divergence, which
is another sign for the further downside continuation.
Resistance
is set at the price of 1.2885
The material has been provided by InstaForex Company – www.instaforex.com
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