Invezted

Gbp/Usd Weekly market outlook

FX:GBPUSD   British Pound / U.S. Dollar
60 0 1
Context:

this pair has been in a downtrend , as of now we have broken a supply line and showed some signs of strenght
but the actual high still holds, nevertheless we can esitmate some further strenght , due to a rejection of a 50& retracement and a strong rallie attempt , however as long as the high @1.555 isnt taken out we cant speak of a strong market as of now.

signs of strenght:
Broken supplyline
rejection of 50% level
higher low

signs of weakness:
recent high still holds
downtrend
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