GBPUSD been trading down since we reached the 200 weekly MA. The move started by a weekly bearish engulfing candle followed by a strong bearish continuation. Today the pair broke support and now trading below the weekly major range and below MS1. The Daily TF show the broken structure better and that the ascending channel is broken as well. We should keep selling rallies and next possible support is the area below the 200 MA where we have both structure swing and MS2.
Comment:
Now testing 200 DMA. Mixed NFP numbers and lots of indecision in the market tho.
Comment:
GU working out well, bad economical numbers keep coming out and a Brexit situation that keep getting worse pushing the sterling down. Soon at another important support at 1,3280 where we could expect some troubles otherwise another push down is possible!