GU is reaching the apex of this current . Last week, we were able to nail the short of GU breaking it's shorter term , and now have completely a very textbook which we will look to make money on this week!
Please note: 1.3 is an incredible number for GBP/USD . It has to do with the Bank of Englands lower-band target. If you don't know what I mean, just know that it's not only a key level, it's a psych level, and an institutional level.
I'm not interested in taking GU short, yet. I want to see how GU acts. As previously mentioned (in reference to UJ), psych levels are highly manipulated! Be careful trading around them.
We have two options: I see a huge break to the downside, causing 1.3 to becoming a very strong price of resistance. MAJOR SUPPORT HAS BEEN BROKEN!
We will stay on the side-lines, but will be ready to take this pair to new lows alongside with EU.
U.K. pound will make us money this week!