The GBPUSD is moving impulsively. A break lower than the current intraday low would signal a continuation of this bear move. The market has sold off continuously since the Bank of England raised rates, and this week is no different.
Comment
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a break below the low before NFP and this may have trapped a few longs
Good job, the image of USD continues to be strong!
Macrobriefing
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@JoeChampion, indeed. Always pays to keep an eye on that.
MUHAMMAD_HAKIMI
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its no longer valid right?
Macrobriefing
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@MUHAMMAD_HAKIMI, 1.11490 is my pending entry order to get short with an SL at 1.1242, so for me, the idea is still valid. What makes you say otherwise? You also need to look at DXY, and that hasn't signalled a reversal lower, yet.