GBP/USD has been ranging below the 38.2% fib extension, forming double-tops and correcting back to 1.2225-20 zone.
This indecisiveness could be prolonged till the end of this week, or the sellers finally take over the market and drive it further down.
Either way, the overall technical outlook is bearish and could stay that way, till it hit the 1.3175 Dec-2021 yearly low mark.
A short position on GBP/USD at 1.3307 could target a 1.3170 stop.
This indecisiveness could be prolonged till the end of this week, or the sellers finally take over the market and drive it further down.
Either way, the overall technical outlook is bearish and could stay that way, till it hit the 1.3175 Dec-2021 yearly low mark.
A short position on GBP/USD at 1.3307 could target a 1.3170 stop.