Overall view of GBPUSD
Updated
GBPUSD entered a support zone and is about to reach the low of the year 1.24550. Prices settled on a support zone and kept being under a bear pressure. The odds of a continuation are medium/high, but we can still encounter a reversal.
Possible targets : @1.24550 (+130pips) OR @1.27500 (+70 pips).
Advice : Scalp by selling any high points until you reach the low of the year 1.24550 or wait for a reversal and buy while targeting 1.27500.
Correlated pairs : GBPCHF (94.8%), GBPJPY (92.8%), US2000 (87.7%) and EURGBP (-94.3%).
We are more likely to experience a test of the year's low with GBPCHF, GBPJPY while a test of the year's high with EURGBP. US2000 in another hand is bullish, eventually confirming an upcoming reversal for the GBP pairs.
Possible targets : @1.24550 (+130pips) OR @1.27500 (+70 pips).
Advice : Scalp by selling any high points until you reach the low of the year 1.24550 or wait for a reversal and buy while targeting 1.27500.
Correlated pairs : GBPCHF (94.8%), GBPJPY (92.8%), US2000 (87.7%) and EURGBP (-94.3%).
We are more likely to experience a test of the year's low with GBPCHF, GBPJPY while a test of the year's high with EURGBP. US2000 in another hand is bullish, eventually confirming an upcoming reversal for the GBP pairs.
Trade active
GBPUSD is about to reach the low of the year. It is still bearish however chances of a reversal are slightly increasing.Trade closed: target reached
Target was reached after prices shown a reversal from the support zone.
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