GBP/USD – Week 9 – Price reversal started.
The fall in the British Pound was driven by the rise in the US bond market. Prospects of a stronger increase and possibly a steaming inflation have finally triggered a sharper bearish move.
This is a move that we expected to happen for quite a while. As you can see on the chart, the price broke the trendline and it is now consolidating underneath. This correction will be our confirmation for more bearish momentum that would push the price beyond the first support area at least.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
This is a move that we expected to happen for quite a while. As you can see on the chart, the price broke the trendline and it is now consolidating underneath. This correction will be our confirmation for more bearish momentum that would push the price beyond the first support area at least.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached
