GBP/USD Potential Bearish Continuation

2 min read
tarantula fx

tarantula fx

Head of Trading

The NFP is the focus today but generally speaking the GBP/USD is very bearish and it might drop to 1.3491 on positive USD momentum.

1.3539 is still the intraday support and the price needs to break it in order to proceed further down. Although the NFP is in focus, wages will also be very important for the further movement of the USD. RSI is negative and the ecs.CAMMACD.light shows a rejection below the M L3 that adds up to the general bearishness of the pair. Bearish Monthly target is 1.3390, and its possible only if the price breaks 1.3491.

Good trading,
Nenad Kerkez aka Tarantula FX

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