FX:GBPUSD British Pound/U.S. Dollar
FX:GBPUSD Participants who had Long set-up positions earlier in the week to capture some expected gains have had their positions forced out in Friday's session by algorithms attempting to force down this pair towards lower levels. In fact, affected cross pairs like ; USDCAD0.58% , AUDUSD-0.75% , EURUSD-0.77% all experienced similar patterns by the algorithmic strategy. So the question here is, How long will this last ? I'm guessing until I see GBPUSD-0.45% breaching the next minor support levels at 1.3105, followed by 1.3033. Take out the popcorn bowl folks, next weeks session will get interesting. As I see it, down before resuming higher is in the cards.