Baxia Markets
September 06, 2021

GBPUSD Meets Resistance 09/06/21

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For the past trend, the price had been down by 2.7% in twenty days until Aug 20th, which was solid and mild. Then, the price stopped falling and jumped up to the upper from the lower Bollinger Band. From then, the price started to retrace. Now, the price has retraced beyond the 61.8% Fibonacci level. Where will the price go next?




Recently, the price seemed to meet the resistance level on Sep 3rd, three days ago. Although the price has not gone down too much, the Stochastics and RSI have reached the bottom of the normal range, which means the downward trend would be strong. Also, the Ichimoku cloud went up recently; it has almost reached the price line. The downward trend just started, let's keep our eyes on that.


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