GBPUSD Medium Term Analysis, July 20, 2022

admin 20 July 2022

As mentioned in the GBPUSD Analysis of July 13, 2022, the price was in a downward phase, it managed to touch the level of 1.17638 and then was in an upward trend.

On the daily chart, the price is still below the swinging downtrend line, which means that the downtrend is still stable.

If the price manages to break the level of 1.20604, we expect a slight rise to the downtrend line, but from the point of view of technical analysis, this transaction is very risky, contrary to the market trend.

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