GBPUSD - Daily - I don't think it's looking healthy.
I know it's a bit too soon to say if it's going to go down or up until it has broken through the apex.
But, I am expecting a lot of surprises from this one. The key breaking level for the downside is around 1.30500. We have the long trend line there and a recent low. So watch out for that.
If you are a strong believer in the Pound, then I would say, keep watching that 1.32680, which could be an attractive level for a LONG, if it breaks it.
Because I am a supporter of a SELL in the GBPUSD, the long term level that I would like to see would be 1.25, which could be a good bouncing point to go LONG.
As always, keep an eye on the price action!
But, I am expecting a lot of surprises from this one. The key breaking level for the downside is around 1.30500. We have the long trend line there and a recent low. So watch out for that.
If you are a strong believer in the Pound, then I would say, keep watching that 1.32680, which could be an attractive level for a LONG, if it breaks it.
Because I am a supporter of a SELL in the GBPUSD, the long term level that I would like to see would be 1.25, which could be a good bouncing point to go LONG.
As always, keep an eye on the price action!