mql5

GBP/USD H4: bearish breakdown. The price is on bearish breakdown located below Ichimoku cloud and below broke Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. There are the following key reversal support/resistance levels for intra-day price:

• 1.5239 resistance level located above Ichimoku cloud in the bullish area of the chart;
• 1.4894 support located below Ichimoku cloud in the bearish area.

Absolute Strength indicator is estimating the bearish trend to be continuing with the secondary ranging condition.

• if the price breaks 1.5239 resistance so we may see the reversal of intra-day price from the ranging bearish to the primary bullish market condition;
• if the price breaks 1.4894 support level so the bearish breakdown will be continuing;
• if not so the price will be moved within the channel.

Resistance	Support
1.5098	1.4921
1.5239	1.4894