GBPUSD is in a very strong downtrend and we will be looking for pullbacks and sell signals to get in short.
However it has reached a minor support level so we may see a trend reversal off this level as GBPUSD has been trending down for so long and is very extended on the weekly chart. Sellers are likely to be exhausted. We will be watching the price action for evidence of trend reversal, otherwise our bias is still bearish.
However it has reached a minor support level so we may see a trend reversal off this level as GBPUSD has been trending down for so long and is very extended on the weekly chart. Sellers are likely to be exhausted. We will be watching the price action for evidence of trend reversal, otherwise our bias is still bearish.