GBPUSD: Robust Decline

GBPUSD, H4

The GBPUSD is in a robust decline, facing support at 1.3160, aligned with the 38.2 Fibonacci ratio. The price breached below the Bollinger band and faced the 200-MA, while the RSI showed oversold conditions.

If the price bounces from the 38.2 Fibonacci, the price will move toward the 1.3260 resistance.
In the case of breaching below the 1.3160 support, GBPUSD will fall to the 1.2980 support.

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Author: Timur Yurdagyul

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