GBP/USD Forex Technical Analysis Strategy


GBP/USD Forex Technical Analysis Strategy
The GBP/USD has broken and closed below some critical support levels into last week, reaching lows of 1.5570 before stalling. This downside momentum is expected to continue next week as prices have failed at the 50% Fibonacci retracement of the daily downtrend and trendline support on the hourly charts has been removed. Bounces from here are expected to be limited but selling rallies is the preferred strategy. The critical level to watch is 1.5630 and if this resistance is broken our view turns consolidative for the short term.
GBP/USD Forex Technical Analysis Strategy

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