GBP/USD 1.3070 is Possible

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The GBP/USD has formed a descending pattern and is still going down. 1.3140 is next followed by 1.3100 and 1.3070.

A drop from the POC zone 1.3170-85 targets 1.3140 and 1.3130. However, we can see a rising trend line, just below so we might expect buyers around the zone. A successful close below 1.3120 should be followed by 1.3100 and 1.3070. The GBP/USD is bearish and until 1.3230 is taken, bears will have the upper hand. Watch for POC rejection and next leg down.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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