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Gbpsud

What next for Cable? GBPSUD All eyes on 1.22500-Will we see the retest and the continuation to the downside? -I am looking for a daily head and shoulders retest of the neckline. This could take place over night or during early London session due to the UK fundamentals first thing Tuesday morning. -We then need to see how price reacts around the 1.22500 level which is a weekly support level for me and a H4 61.8% fib retracement level -We are seeing multiple confluences leading to more bearish movement as I am looking for a descending 3rd trend line bounce. -Price is riding nicely below the daily EMA which gives me confidence of a bearish continuation to our 1.20500 overall target. Again Ill be keeping a close eye of price at 1.22500 on lower timeframes to see if we can look to place shorts or a create a higher high a look for 1.24500 as a long target
by Travis_duncz
GBPUSD potential downside breakoutIG sentiments show 72% of clients are holding a long position, which implies a potential breakout to the downside (retail traders are wrong for the majority times). British Prime Minister Teresa May said that if the parliament does not support her plan in the December vote, then the differences within the country around the Brexit will intensify. She said the current agreement is the best agreement to honor the results of the referendum, which is conducive to the future economy and employment. The vote on the Brexit agreement this month will be a crucial moment for the Brexit negotiations, but the success or failure is difficult to grasp. Therefore, we can see that the GBP/USD has the potential to breakout to the downside.
by SIUSHINGTO