The GBPUSD fell sharply yesterday and the GBP was the weakest of the major currencies. The fall took the price down to test the January 18 swing low at 1.35188. Today the selling has continued – albeit at a more modest pace – pair moving closer to the January 11 swing low (and lowest level for the year) at 1.34498. The low price today has just reached 1.3454 (within 5 pips of the low for the year).
the pair is now testing the 2021 low. I would expect risk focused buyers against the level with stops on a break below. Risk can be defined and limited against the level. That is enough of a reason for some traders to put a toe in the water (with limited risk).
the pair is now testing the 2021 low. I would expect risk focused buyers against the level with stops on a break below. Risk can be defined and limited against the level. That is enough of a reason for some traders to put a toe in the water (with limited risk).
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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.