GBPUSD entered a support zone and is about to reach the low of the year 1.24550. Prices settled on a support zone and kept being under a bear pressure. The odds of a continuation are medium/high, but we can still encounter a reversal.
Possible targets : @1.24550 (+130pips) OR @1.27500 (+70 pips).
Advice : Scalp by selling any high points until you reach the low of the year 1.24550 or wait for a reversal and buy while targeting 1.27500.
Correlated pairs : GBPCHF (94.8%), GBPJPY (92.8%), US2000 (87.7%) and EURGBP (-94.3%).
We are more likely to experience a test of the year's low with GBPCHF, GBPJPY while a test of the year's high with EURGBP. US2000 in another hand is bullish, eventually confirming an upcoming reversal for the GBP pairs.
Possible targets : @1.24550 (+130pips) OR @1.27500 (+70 pips).
Advice : Scalp by selling any high points until you reach the low of the year 1.24550 or wait for a reversal and buy while targeting 1.27500.
Correlated pairs : GBPCHF (94.8%), GBPJPY (92.8%), US2000 (87.7%) and EURGBP (-94.3%).
We are more likely to experience a test of the year's low with GBPCHF, GBPJPY while a test of the year's high with EURGBP. US2000 in another hand is bullish, eventually confirming an upcoming reversal for the GBP pairs.
Trade active:
GBPUSD is about to reach the low of the year. It is still bearish however chances of a reversal are slightly increasing.
Trade closed: target reached:
Target was reached after prices shown a reversal from the support zone.