GBP/USD: Broken support, what's next?
Updated
The pair broke its nice curve which was supported multiple times, as shown in my chart.
With GBP being weak this morning and USD strong, I am selling the pair and will target the first fibo level area.
I will wait for a pullback to enter since the pair is already down 45 pips. I will enter at a 50 or 61.8 retracement (pink fibo) from the top.
Trade at your own risk
With GBP being weak this morning and USD strong, I am selling the pair and will target the first fibo level area.
I will wait for a pullback to enter since the pair is already down 45 pips. I will enter at a 50 or 61.8 retracement (pink fibo) from the top.
Trade at your own risk
Comment
Comment
Comment
Even though the pair has broken its curve, I believe today and probably tomorrow could be an opportunity to trade the pullback. The idea is to buy at these levels, assuming we've reached a bottom, until 50-61.8% fib retracement. As you can see, there is a high level of interest at these levels so we could see in the next hours a re-test before going back down again. Trade at your own risk.
Trade closed: target reached
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