GBPUSD's plan worked perfectly yesterday, a move from PZ to level below then bounce. It is a strong support and price is bouncing off the level (as did other currencies) and price is now at the PZ. As what I shared for EURUSD; the sell down last Friday is off a strong level, the bounce off the lows yesterday is off yet another strong level. So in a way, price is stuck between two strong levels; the next move is not easy to decipher.
But overall, for now, price has pulled back to the PZ. A rejection off here would be a short for a move down to 1.2801 and 1.2785 and possibly even 1.2759. If I were to go long, it would be from lower and 1.2759 would be a good price to do so.
And if market is to give a higher low off Friday's high, then 1.2853 would be a level of rejection for such a move back down.
But overall, for now, price has pulled back to the PZ. A rejection off here would be a short for a move down to 1.2801 and 1.2785 and possibly even 1.2759. If I were to go long, it would be from lower and 1.2759 would be a good price to do so.
And if market is to give a higher low off Friday's high, then 1.2853 would be a level of rejection for such a move back down.
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