GBPUSD is less than appealing after being a great market to trade for months.
The sideways chop at the 1.2450 range highs is something I avoid at all costs.
The trend line I mentioned in last week’s forecast is holding as resistance, but so far, there’s been no follow through from sellers.
Acceptance below 1.2350 this week opens up 1.2290 and potentially 1.2200.
But we can’t discount another move back to the 1.2540 range highs just yet.
The sideways chop at the 1.2450 range highs is something I avoid at all costs.
The trend line I mentioned in last week’s forecast is holding as resistance, but so far, there’s been no follow through from sellers.
Acceptance below 1.2350 this week opens up 1.2290 and potentially 1.2200.
But we can’t discount another move back to the 1.2540 range highs just yet.