Like I said last week, 1.1750-1.18 is very strong resistance for GbpUsd and after a corrective rally in that zone, the pair fell hard.
My both targets for this drop were reached and now the pair is sitting on the very important support of 1.14.
So, the important question is: will this support be broken?
Considering the fundamental context, my opinion is Yes.
In this situation, GbpUsd can drop even under 1.1 and only sustain buying power above 1.16 would put the pair in a more favorable perspective.
Eventual rallies towards 1.15 should be sold
My both targets for this drop were reached and now the pair is sitting on the very important support of 1.14.
So, the important question is: will this support be broken?
Considering the fundamental context, my opinion is Yes.
In this situation, GbpUsd can drop even under 1.1 and only sustain buying power above 1.16 would put the pair in a more favorable perspective.
Eventual rallies towards 1.15 should be sold
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.