GBP/USD analysis for September 18, 2023 – Potential for the further downside movement
September 18, 2023 1:24 pm
Technical analysis:
GBP/USD has been trading sideways this morning at 1.2385 but I found test and reject of the key resistance lvel at 1.2400, which is good sign for the further downside movement.
Due to rejection of the resistance level and the downside trend, I see potential for the further drop towards lower references.
Downside objective is set at the price of 1.2310
RSI oscillator is showing hidden bearish divergence, which is good sign for the further downside movement.
Key resistance is set at the price of 1.2410
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been trading sideways
this morning at 1.2385
but I found test and reject of the key resistance lvel at 1.2400,
which is good sign for the further downside movement.
Due
to rejection of the resistance level and the downside trend, I see
potential for the further drop towards lower references.
Downside
objective is set at the price of 1.2310
RSI
oscillator is showing hidden
bearish divergence, which is good sign for the further downside
movement.
Key
resistance is set at the price of 1.2410
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: