GBP/USD Downtrend Continues with the Close Below W L4
March 8, 2022
2 min read
GBP/USD Technical Analysis
- GBP/USD Continues down
- Below W L3 it’s bearish
- Close below W L4 for continuation
4H Chart GBP/USD
- Swing high
- Swing low
- Top of retracement
- Breakout
- Final target
The GBP/USD is still bearish. We should see the move down below W L3. Continuation below W L4 1.3096. If market momentum holds we should see 1.3039 test and below 1.2990 as the final target. The market below 1.3039 is very bearish and M L5 should be tested. W L5 is the final target.
The first target is 1.6692, followed by 1.6598 the final target.
Good trading,
Nenad Kerkez
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