GBP/USD Bears Want to Push the Price Lower

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

GBP/USD is in downtrend. Bearish momentum should continue.

The GBP/USD has broken below M L4  – 1.3462 level. At this point we can see a continuation of the bearish trend as bears are gaining momentum. BOE stance was bearish and now technicals are aligned with fundamentals. The entry zone is 1.3528 followed by 1.3395. Next targets are 1.3311 followed by 1.3274. Selling the rallies continues as the price is making lower lows.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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