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KaltoireCapital

GBP/USD price action appears to be weak, trade with caution

Paun British / Dolar A.S. (FX:GBPUSD)  
KaltoireCapital  
FX:GBPUSD   Paun British / Dolar A.S.
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdidea
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdidea
After hitting the lows at mid-1.21 levels, GBP/USD made a decent recovery.
However, the recovery appears to have run out of steam now.

Price action over the last few days has been weak and currently, GBP/USD has edged
lower below the 100 period EMA on the 4hour chart. So, bulls need to be careful here.

There is a chance that GBP/USD may visit the recent lows once again. If bearish
price action persists, I would recommend traders to short GBP/USD@1.2570 with
SL above 1.2650 and TP at 1.22

Penafian

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