Ill be watching GBPUSD to continue lower this week after it tested the daily trend line back on Wednesday last week. It currently sits just below a 1H support/resistance level and near term analysis has me expecting the pair to drop down and test the support at 1.25000 area. A test of this level should also test the 100 day moving average and then I will monitor price action from there to decide if the pair continues lower or corrects itself.
The Pound/Dollar trader sentiment is mixed which leaves open the idea of a move higher at the open this week. If thats the case, I'll expect the pair to rise up and test the 4H resistance level at 1.25562 area. But overall, I'm going to be looking to SHORT this pair once i see PA that supports my analysis.
The Pound/Dollar trader sentiment is mixed which leaves open the idea of a move higher at the open this week. If thats the case, I'll expect the pair to rise up and test the 4H resistance level at 1.25562 area. But overall, I'm going to be looking to SHORT this pair once i see PA that supports my analysis.