Weekly Technical Analysis Report 2 February – Bearish outlook seen on GBPUSD
February 2, 2023
Weekly Technical Analysis Report 2 February – Bearish outlook seen on GBPUSD
1. This week’s outlook on GBPUSD: Bearish outlook seen
On the H1 timeframe, prices are ranging between 1.2300 and 1.2420. A pullback to the 1.2420 level could present an opportunity to ride the drop to the next support zone at 1.2300, in line with the 78.6% Fibonacci extension. Stochastic RSI is in the overbought region above 80, and price is hovering near the top of the Bollinger Bands, supporting our bearish bias.
Bearish outlook on GBPUSD – 2 February 2023 by Salzworth on TradingView.com
