Here's our outlook for GBPUSD pair. It has been under bearish pressure for quite a while creating lower highs. We are currently at support, waiting for a nice break and a corrective retest within some bearish pattern to take the Cable short.
Once appropriate setup is found, we will update this idea.
Once appropriate setup is found, we will update this idea.
Note
On DXY we're seeing at least one more push towards 101 area, so definitely gives confluence for shorting this pair. At 101 we will observe what DXY does and decide what to do next.
Note
We got our wedge pattern at the bottom of the support area. We will either short break and close below lower trendline or if market pulls back 3rd touch of the upper trendline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.