GBPUSD - H1 Forecast
All across the board we have seen a very bearish Pound. GBPUSD has surpassed it's weekly 1.30000 price zone which acted as previous support on both Daily and Weekly time frames. A correction to the upside is due, targeting 1.28600 as re-entry for shorts to take place. The 1.28600 zone is crucial as it pin points the 50% retrace of this weeks candle. If fundamentals stay in favor of a bearish Pound then expect to see a bullish start to this upcoming trading week, followed by a wick pushing price back to to the downside.
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.