GBPUSD has been very bearish this week but has made a significant come back as well. I am hoping the GBP will regain strength next week once it closes this weeks weekly candle as a bullish engulfing, or pin bar. This will give it better runway to gain properly next week. This move will be determind by the CORE PCE data on Friday. Once it drops under the 1.09201 level then we will just wait for retest of the zone, and a bearish reversal candle and we pay enter accordingly heading for the other side of the trend.
Comment:
As shown on the analysis, price decided to go straight to the upside. we will now wait to see if it will drop again or break the resistance