21062023 - #GBPUSD
GBP is weaker than EUR and yesterday we see that price was hovering just at PZ and not able to go higher before the move down and eventually a recovery. EURGBP IMO is looking good for further upside.
But anyway for GBPUSD, price action does point to further downside; with price capped by PZ now, looking for another revisit of yesterday's low at 1.2720 and even 1.2646. We have UK CPI data later so be careful. If my view on EURGBP is correct, then yes, the news could be a trigger for the move down (GBP to weaken).
But anyway for GBPUSD, price action does point to further downside; with price capped by PZ now, looking for another revisit of yesterday's low at 1.2720 and even 1.2646. We have UK CPI data later so be careful. If my view on EURGBP is correct, then yes, the news could be a trigger for the move down (GBP to weaken).
Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.