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GBPUSD has reached a new 6-month low at 1.235235 and is now nearing the 1-year low at 1.22993. If the current level fails to hold, a test of the 1-year low seems imminent. A confirmed break and close below the 1-year low would likely signal further downside momentum.
Despite growing confidence that the 6-month low might mark the bottom, bullish confirmation would require a break and close above the 1-day pivot point (1D PP). Beyond that, a sustained break and close above 1.247902 would provide a solid foundation for a potential reversal.
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TradeWithTheTrend3344
GBPUSD has reached a new 6-month low at 1.235235 and is now nearing the 1-year low at 1.22993. If the current level fails to hold, a test of the 1-year low seems imminent. A confirmed break and close below the 1-year low would likely signal further downside momentum.Despite growing confidence that the 6-month low might mark the bottom, bullish confirmation would require a break and close above the 1-day pivot point (1D PP). Beyond that, a sustained break and close above 1.247902 would provide a solid foundation for a potential reversal.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
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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.