GBP/USD;TECHICAL
FORECAST:BEARISH
GBP/USD remains interesting as it was one of the stronger major pairs ahead of the FOMC’s rate decision a couple weeks ago. But, as the theme of USD strength drove in the aftermath of that meeting, GBP/USD plunged down to fresh lows along with a number of other major pairs.
The big area of nearby support in GBP/USD plots from around 1.3644-1.3678. This is a confluent zone of Fibonacci retracement levels that caught support inflections in March and April of this year after helping to set resistance in January, around the yearly open. A test here can open the door for bullish setups, looking for mean reversion themes to remain.
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FORECAST:BEARISH
GBP/USD remains interesting as it was one of the stronger major pairs ahead of the FOMC’s rate decision a couple weeks ago. But, as the theme of USD strength drove in the aftermath of that meeting, GBP/USD plunged down to fresh lows along with a number of other major pairs.
The big area of nearby support in GBP/USD plots from around 1.3644-1.3678. This is a confluent zone of Fibonacci retracement levels that caught support inflections in March and April of this year after helping to set resistance in January, around the yearly open. A test here can open the door for bullish setups, looking for mean reversion themes to remain.
If you find this helpful and want more FREE Updates on Tradingview
Please show your support back,
Hit the 👍 LIKE button,
Drop some feedback below in the comment!
Your Support is very much ..... appreciated!
Want us to help you become a better Forex trader?
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Be sure to leave a comment let us know how do you see this opportunity and forecast.
1_GFX English Support Team