GBP/USD witnessed a lot of volatility going large volumes up and down in just a few days' time. The Sterling has been neglected as it has suffered losses against all of its competitors. The pair is again trading in the downward trend channel since today.
Bears have to take out first support zone at 1.4053. If this level is breached, then we might see a sharp drop towards 1.35, the all-time low.
Currently, price is holding on to 1.41 with tight swings to 1.4115, 1.4095.
Chart: GBP/USD H4
Thank you for the analysis.
ReplyDeleteIt could be at a good turning point.
ReplyDeleteIt may test 1.40 soon.
ReplyDeleteExcellent analysis.
ReplyDeleteGood post. Very helpful.
ReplyDelete