UK ecnomomy is considered on the peak. The latest economic reports from the U.K. including today’s PMI services index, which fell to a 6 month low confirms U.K. growth peaked at the end of last year
This could encourage investors and traders take profit after long run of GBPUSD .
Tomorrow, if US Non-Farm Payrolls is positive, even more positive ( most likely it would happen, most economists forecast the payrolls will hit 200k , and alot of indicators of US economy recently show US economy is on the moderate recovery pave), the GBPUSD would fall sharply, and no force can hold this trend.
There are a lot of rooms to SHORT GBPUSD now.
Traders should wait until G/U crosses through the neckline, then open position . The catalyst will be NFP report tomorrow. And the final target is 1.6 I show on the chart.
Good Luck all traders.