GBP/USD The beginning of retracement!

Updated

GBP/USD After the climb starting from the bottom of period, it reversed his race to 1.30. The break of bullish trendline could bring the price to 1.25-1.26 area, but we still have the idea that this is a retracement movement and that 1.25-1.26 area can provide sufficient support to reset the bullish movement.

Note

We also like to point out that, thanks to the Andrews Fork, the price has failed to return to the Median Line from the bullish swing, and had breaking the lower line today. This can be a evidence of pound weakness against the dollar and confirm even more the probably retracement that we have exposed

Note

It has been a not easy and quite stressful trade, as the price after the breakout didn't go dowward. However, even with the electoral outcome, we are almost already targeting and now we recommend evaluating well to see if the support will hold or if we could continue this strong sell-off

gongambol

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.