GBPUSD Bearish Trend Continues
Login

GBPUSD Bearish Trend Continues

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


Market Analysis – September 19

GBPUSD bearish trend continues as the market has been under its influence persistently since July. The bearish momentum in the GBPUSD market became evident in early July. Buyers abandoned their positions, leading to a reversal at the crucial 1.31400 key level. Subsequently, the bears expanded their dominance by breaching the 1.28310 key level. Despite occasional attempts by buyers to re-enter the scene, the bearish strength continued to surpass key levels.

GBPUSD Key Zones

Resistance Levels: 1.09760, 1.08200
Support Levels: 1.06350, 1.05210
GBPUSD Bearish Trend Continues

GBPUSD Long-Term Trend: Bearish

A few weeks ago, the sell traders made significant moves that broke through the 1.25650 market level. However, the market remains poised for further movements. In the current market phase, it’s apparent that the sell-side strength shows no sign of decline. While buyers may have plans to intervene, the bearish sentiment remains resilient.
I
If sellers maintain their momentum, they could potentially breach the critical key zone at 1.23100. The Money Flow Index (MFI) continues to favor the sell axis, indicating a southward flow of capital. Additionally, the Accumulation Distribution indicator stands at 3.87M, signifying that sell investors are liquidating their positions. This mass-selling activity contributes to the downward trend in price.
GBPUSD Bearish Trend Continues

GBPUSD Short-Term Trend: Bearish

On the short time frame, the market is positioned for further downside. This week, attention may remain on the bearish side if the sell momentum persists. Traders should closely monitor the ongoing bearish trend and be prepared for potential price movements in favor of the bears.
I

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News