GbpUsd- Any rally should be sold
Gbp is very weak and this is visible with all its counterparts and, in the case of USD, British Pound has lost almost 1k pips since mid-July, smashing all my down targets.
Last week Cable also dropped under May's low and nothing seems to stop it.
Technically, at this moment, 1.24 is resistance, but in my opinion, it will not retest (as weak as it is)
That being said, rallies above 1.234 should be sold and, considering a stop above 1.24 we easily could achieve a 1:2 risk: rewards is we target the 1.2 congestion zone and psychological level.
1.18 the technical target and medium-term trader could also focus on this.
Last week Cable also dropped under May's low and nothing seems to stop it.
Technically, at this moment, 1.24 is resistance, but in my opinion, it will not retest (as weak as it is)
That being said, rallies above 1.234 should be sold and, considering a stop above 1.24 we easily could achieve a 1:2 risk: rewards is we target the 1.2 congestion zone and psychological level.
1.18 the technical target and medium-term trader could also focus on this.
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💎 Crypto Channel:
t.me/FanCryptocurrency
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