GBP/USD analysis for September 19, 2023 – Potential for the further drop
September 19, 2023 8:21 am
Technical analysis:
GBP/USD has been trading sideways at the price of 1.2376 but I see potential for the downside breakout of the consolidation.
Due to the breakout of the bigger base in the background and potential for the downside continuation, I see further downside movement towards lower reference.
Downside objective is set at the price of 1.2310
RSI oscillator is showing bearish divergence, which is good sign for the potential 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
at the price of 1.2376 but I see potential for the downside breakout
of the consolidation.
Due
to the breakout of the bigger base in the background and potential
for the downside continuation, I see further downside movement
towards lower reference.
Downside
objective is set at the price of 1.2310
RSI
oscillator is showing bearish
divergence, which is good sign for the potential downside movement.
Key
resistance is set at the price of 1.2410
The material has been provided by InstaForex Company – www.instaforex.com
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