GBP/USD Bears are in Full Control
May 18, 2020
2 min read
Dear Traders,
The cable has been very bearish. I expect the bearish continuation towards 1.2007 and 1.1914 if the price closes below 1.2080.
Strong downtrend marks the bias on the GBP/USD pair. At this point we can see that 1.2083 M L5 (Strongest monthly support) is supporting the move. If the pair closes below it, it will be extremely bearish and we should see a continuation towards W L3 and W L4. Selling on rallies is the option. The 1.2190 zone could be good for fresh sellers.
The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea
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