GBPUSD – already on Thursday last week, when the price broke out dynamically from the growth channel, I expected further decreases. Then the price was also able to beat the support/resistance level which was located 30p below the defeated channel support – 1.2387.

GBPUSD Daily


Inside Bar was formed on H4 chart, from which the attempt to break the top failed today. At the moment the price is close to the bottom of the pattern and a possible breakout may lead to further declines.

GBPUSD H4 – a possible breakout can lead to declines

It is possible that this week we will see the pair’s quotations around 1.2210. When planning an order for this pair, it should be taken into account that on Thursday Boris Johnson will present the EU a new version of the “divorce” agreement, which will undoubtedly be another opportunity for greater volatility.


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