OANDA:GBPUSD   British Pound / U.S. Dollar
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.

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.
Lets see if the Support zone push the price higher. Good post, monnjion.
monnjion Bullandbeartrading
@Bullandbeartrading, It spiked as predicted! Thanks for the comment.
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