GBPUSD is still in a downtrend but has reached a weekly support level.
Friday’s bearish candle on a higher low would indicate that the market wants to continue its downtrend. The only thing that worries us is the weekly level that it seems to be reacting to.
So… the question is, will it break through or bounce off this level. We will wait for further price action signals to decide.
Friday’s bearish candle on a higher low would indicate that the market wants to continue its downtrend. The only thing that worries us is the weekly level that it seems to be reacting to.
So… the question is, will it break through or bounce off this level. We will wait for further price action signals to decide.