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Message: [QUOTE="Resolve, post: 237226, member: 29339"] [B][SIZE=5]GBPUSD Technical Analysis – 03rd OCT, 2024 GBPUSD – Support of Channel is Broken[/SIZE][/B] [img]https://i.imgur.com/QlB3DNg.png[/img] GBPUSD was unable to continue its bullish momentum and after touching a high of 1.3274 the prices started to decline against the United States Dollar today in the US Trading session. The Support of channel is broken in the 1-hourly timeframe. We can see Bearish price crossover with Moving Average 20 in the daily timeframe. The Bearish price crossover with adaptative moving average 20 is visible in the daily timeframe. The RSI indicator is back under 50 in the daily timeframe. We can see that the SuperTrend indicator bearish reversal is visible in the daily timeframe. Also the Momentum indicator is back under zero in the daily timeframe. The RSI indicator: bearish divergence is visible in the weekly timeframe. We have also detected the CCI indicator: bearish divergence in the weekly timeframe. Now we can see the formation of Bearish engulfing lines in the weekly timeframe. GBPUSD is ranging Near horizontal resistance in the monthly timeframe. GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average. • Pound Bearish reversal seen below the 1.3274 mark. • Short-term range appears to be Bearish. • GBPUSD continues to remain above the 1.3100 levels. • Average true range ATR is indicating High market volatility. GBPUSD is now trading near to its Pivot levels of 1.3108 and is moving into a Bearish channel. The price of GBPUSD is above its Classic support levels of 1.3071 and is now moving towards its next target of 1.3081 which is a Price 3 Standard Deviations Support. We are also looking for the breach of the levels of 1.3073 at which the Price Crosses 18 Day Moving Average Stalls. #fxopen [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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