RiosTrades

GBP/USD HEADING TO ALL TIME LOWS

FX:GBPUSD   British Pound / U.S. Dollar
Price Action ( Technical Analysis ): Making sense of what we currently see in the market would be acknowledging monthly impulse retracing into the 38% & since then seller haven't been cutting the bulls much of a break. The ideal entrance into this pair would be to allow price to test our monthly support & receive various confirmations around our psychological level 1.20000 whether to expect flow to continue short or an entry of buyer waves rejecting price from pushing any further down.

Fundamental Analysis: The Pound needs a serious recovery after the Greenback has been highly appreciated lately, we have plenty of USD news upcoming this week, letting our analysis play out in one way or the other. GBP/USD is netted-long 79% by retail traders, a lot of times the majority gets dumped on so that's why we anticipate price moving to our desired area of entry & speculate price action at our rally point 1.20000
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