GBPUSD: The US Dollar Is Still Under Strong Pressure

GBPUSD: The US Dollar Is Still Under Strong Pressure

USD dollar is creating many up and downs in different currency pairs.

In some of them, we can see USD being strong and in some others, USD is
barely holding. On the other hand, GBP is doing very well and also GBP is
a very strong economy.

However, from the technical perspective price is close to the top of the
structure again and we can see a fast reaction.

It is clear that the sellers are positioned near that zone (near 1.2450)

If the price will manage to break through 1.2450 next targets will be 1.2650

If the top will hold strong GBPUSD can move down to 1.2250 and 1.2100

It is not an easy scenario at all.

Thank you and Good Luck!