GBP/USD looks as if some weakness is creeping in to the chart.
On the smaller timeframes we had a TEST of the resistance at 1.235 area during large session volumes, followed by a subsequent retest where it looks as if buyers are exhausted, as they have failed here to push above the resistance during multiple sessions.
Looking for volumes to start pulling CABLE DOWN TO SUPPORT, around the 1.20 area which is VERY solid support structure. Any longs should be resumed in this area, assuming that the price action does play out. From a fundamental level we have Powell who just hiked the dollar 25 base points which should provide some short term support to the ROCKY DXY
On the smaller timeframes we had a TEST of the resistance at 1.235 area during large session volumes, followed by a subsequent retest where it looks as if buyers are exhausted, as they have failed here to push above the resistance during multiple sessions.
Looking for volumes to start pulling CABLE DOWN TO SUPPORT, around the 1.20 area which is VERY solid support structure. Any longs should be resumed in this area, assuming that the price action does play out. From a fundamental level we have Powell who just hiked the dollar 25 base points which should provide some short term support to the ROCKY DXY
Comment:
GBPUSD being very stubborn and not playing out exactly how we would like, SELLS are still active as GBP index has yet to break out. WILL GBPUSD respect our view? lets see
NICE TIME TO SELL GBPUSD for all the new followers