GBP/USD Price Outlook: Bulls fail to break 1.2520 so far

British Pound/U.S. DollarFXCM

Description

⋅ Jul 7, 2020 7:11 AM

GBP/USD Bulls have failed to break the key level 1.2520 so far. Repeated failure at this level will probably lead to decline in price.
However, for the buyers, 1.2520 must be broken clearly for uptrend to resume.
My bias for GBP/USD is tilted to the downside. However, I am waiting for some more signs before entering a short trade.

Comments

SteveSX

⋅ Jul 7, 2020 7:15 AM

This is my favorite pair. Thanks for the idea

KaltoireCapital

⋅ Jul 7, 2020 7:31 AM

@MsoJnr, Thank you :)

pyxis2025

⋅ Jul 8, 2020 12:47 AM

The pair just reached the top of the supply zone, now we are seeing a slight pull back on the 30M chart. We shall see.

Infamez

⋅ Jul 7, 2020 4:51 PM

Waiting for more clear direction to the downside

EddyRean

⋅ Jul 7, 2020 1:52 PM

bull now, but probably will go down soon

cckidwell89

⋅ Jul 7, 2020 12:52 PM

And we shall wait with you GU plays no games and a I’ve said this over and over.. GU is a patience tester

VasilyTrader

⋅ Jul 7, 2020 12:44 PM

Very good! Here is what price action shows:

PipG

⋅ Jul 7, 2020 7:28 AM

Any ideas on when to enter?