GBP is known to recover fast whenever it gets hit by USD. I expect a short 1-2 day consolidation or retracement on DXY which on the other hand indicates similar action will be reflected on GBPUSD. 1.4076 will be very close to the lower trend line of the downtrend structure within the mid-term uptrend. I'm in general bearish on USD and bullish on GBP so...
NOTE: I've been wrong in previous trade (GBPUSD and EURUSD) but luckily didn't make much loss. bad red week!
Good luck all and a nice weekend.
NOTE: I've been wrong in previous trade (GBPUSD and EURUSD) but luckily didn't make much loss. bad red week!
Good luck all and a nice weekend.
Comment:
quick update - if the 21, June gets delayed, I fear there'll be some further drop down to the 1.4 level before it takes off again.
