GU has been quite weak but had a decent bounce. It has been tightly bound by the blue Fibonacci set. Monday open started a leg down that might continue.
1.249x is where a clear/precise rejection might occur. 1.245x is the first support bulls will be watching to buy. 1.242x is the last stand for bulls to turn the trend bull.
Break above 1.250 would invalidate lower prices. Break below 1.243 would resume the downtrend. Ranging in between is very likely early in the week.
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Might be coming in for a Landing here Should see a bit if a bounce here, although the Brexit news will probably push it lower...
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Decent bounce where expected this "should" come back to 1.248x area but not betting on that, closed shorts for now though. Lets see what New York does with it today....
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Ping bounce looks decently strong, might got a little higher yet
I think we will see GBPUSD drop much lower than 1.2$. Boris Johnson will become the next PM tomorrow.... and he is bringing no-deal Brexit to the table, which will push the pound much much lower than 1.20$.
EuroMotif
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@doctorkesh, Hello, yw and ty for your input.
Brexit seems to get uglier and uglier every day!
Admittedly I am not up on the political situation at all, so your comments are very helpful!
UnknownUnicorn995432
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@EuroMotif, Thank you! I live in UK hence we have no choice than to face this Brexit and all of its associated mess. GBP will likely fall further and will make new lows this year. I think we are looking at 1.1$ or even lower. I also expect GBPEUR to fall to 1, or even lower...
EuroMotif
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@doctorkesh, wow, $1.1 GU and parity vs the Euro... wow!
Guess I'll keep shorting :) Not to poke fun at tragedies though....
I think we will see GBPUSD drop much lower than 1.2$. Boris Johnson will become the next PM tomorrow.... and he is bringing no-deal Brexit to the table, which will push the pound much much lower than 1.20$.