GBPUSD, my expectation for the week
Personally, I am bearish on this pair as GBPUSD has a double top forming on the daily chart. The deal entry should be at 1.37678 with a target at 1.36416 (TP1) and again possibly at 1.36031 (TP2).
On the 1hr chart, price got rejected by the trendline and is currently retesting the 0.786 fib at 1.38296. Let’s see if it holds. If it gets rejected again, that might be a good place to take a sell position down to at least 1.37678 or just ride it down till 1.36416 or 1.36031 as explained above.
On the 1hr chart, price got rejected by the trendline and is currently retesting the 0.786 fib at 1.38296. Let’s see if it holds. If it gets rejected again, that might be a good place to take a sell position down to at least 1.37678 or just ride it down till 1.36416 or 1.36031 as explained above.
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