We shorted GBP/USD last yesterday, so although this upload is late, and price has already began to fall, we still think you can catch a good risk:reward trade on this pair.
Weve covered both the weekly and daily analysis on this pair, yesterday price broke and closed below historical support of 1.41512. Both blue zones are weekly support levels with the top one being broken a while back which was support at 1.47991. GU sits within a weekly descending trend line (blue) as well as within a daily descending trend line (purple) which broke a counter trend line putting in place a break, retest and continuation formation. Following the trend our downside target sits at 1.36751-1.35634 (green zone)
Weve covered both the weekly and daily analysis on this pair, yesterday price broke and closed below historical support of 1.41512. Both blue zones are weekly support levels with the top one being broken a while back which was support at 1.47991. GU sits within a weekly descending trend line (blue) as well as within a daily descending trend line (purple) which broke a counter trend line putting in place a break, retest and continuation formation. Following the trend our downside target sits at 1.36751-1.35634 (green zone)