GBPUSD price is looking really interesting technically, we can't but not think about what effect the US election will also pose on the pair, either a short or long term effect.
I'm so in tune with the pair technically because i've been looking forward to what the monthly close of the month of October will be, maybe that will give us a clear direction of movement for the few weeks, i like getting the best from such opportunity.
Technically, i think the over all long term DOWNTREND on GBPUSD is trying to take over the pair, we've had price trading inside the indicated BEARISH FLAG on 4H chart, also price got rejected from the 61.8 Fibonacci of the last SHORT IMPULSE move, on Friday price closed below this BEARISH FLAG , on a daily, weekly and monthly basis.
The close below the FLAG will set price lower with target at the next level of support @1.2660 and @1.3040 zone will remain resistance as we go into the new month.
I'm so in tune with the pair technically because i've been looking forward to what the monthly close of the month of October will be, maybe that will give us a clear direction of movement for the few weeks, i like getting the best from such opportunity.
Technically, i think the over all long term DOWNTREND on GBPUSD is trying to take over the pair, we've had price trading inside the indicated BEARISH FLAG on 4H chart, also price got rejected from the 61.8 Fibonacci of the last SHORT IMPULSE move, on Friday price closed below this BEARISH FLAG , on a daily, weekly and monthly basis.
The close below the FLAG will set price lower with target at the next level of support @1.2660 and @1.3040 zone will remain resistance as we go into the new month.