TheForexGuru
Short

GU Double Top - Bearish?

FX:GBPUSD   Pound Sterling/U.S. Dollar
78 1 6
Double Top Formation on the daily candles have bearish tone. Supporting information: UK looking to cut rates in August or add QE and US looking to raise rate later this year. US also printing better than expected economic datas suggesting robust US economy. Good change GU will go lower with target 1.2500
Comment: Good data coming out of UK. GU may go sideways from here. 7/19/2016
Comment: BOE to announce rate decision on Thursday Aug 4, 2016. If they cut rate, then there's a high probability that GU will test 1.3000. If they don't cut and non farm payroll from US comes in weak, then target will be 1.35000
Comment: Neutral now.. no bias on GBPUSD
Neutral now.. no bias on GBPUSD
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