FX.co ★ Technical Analysis of Weekly Price Movement of GBP/USD Main Currency Pairs, Wednesday, October 4 2023.

On the weekly chart of GBP/USD currency pairs, there is seems appear the deviation between price movement with its Histogram MACD indicator as well as Cable movement below SMA (10) which the slope going down, where all these facts gives the clue that if in a few weeks ahead, GBP/USD has the potential to weaken to the level 1,1802, unless if on the way to those level suddenly there is an upward correction through the level 1,2423, because if this level successfully breaks above then the downward scenario that has been described before has the potential to cancel iteself.

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