IulianBondar
Short

GBPUSD still weak, eyes on strong support @ 1.2150

FX:GBPUSD   British Pound/U.S. Dollar
Even though Friday we've finally seen some weakness in the Dollar, the pound still looks weak, trading below it's short-term daily MAs (5,8,13).

Current key support area: 1.2100 - 1.2150
A break below would probably take the price to 1.1800, where the market might finally bottom.

Scenario plausible while the market stays below the short-term MAs and below the trendline (triangle formation).

Factors that could support the pound: a correction in the Dollar Index             ( USDOLLAR             ) that started Friday and a positive reaction to next week's data, including the Monetary Policy Statement on Thursday.


Looking forward to different opinions/comments!


Safe trading to all!

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