Hello friends,
GBPUSD has been consolidating in a narrow range between 1.23376 and 1.20372. After a prolonged consolidation, a sharp, one-directional move usually presents itself.
Since highs and bearish imbalances are being respected on both the weekly and daily timeframes, I expect a further downside move to take out buyers' stops at the 1.18 swing low. Furthermore, we have several fundamental catalysts for such a move:
FOMC on Wednesday.
BOE meeting on Thursday.
NFP on Friday.
GBPUSD has been consolidating in a narrow range between 1.23376 and 1.20372. After a prolonged consolidation, a sharp, one-directional move usually presents itself.
Since highs and bearish imbalances are being respected on both the weekly and daily timeframes, I expect a further downside move to take out buyers' stops at the 1.18 swing low. Furthermore, we have several fundamental catalysts for such a move:
FOMC on Wednesday.
BOE meeting on Thursday.
NFP on Friday.