GBP/USD Retracement but Still Bearish

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

GBP/USD is still in downtrend. We can see the retracement but bears are still valid.

Intraday targets are lower. If the GBP/USD can break below 1.3440 we should see the move to the downside towards 1.3426. This is an important level. Below 1.3426 we should go for 1.3400 and 1.3385. If the price breaks 1.3475 then this scenario is invalid. Look for selling the rallies towards 1.3474 due to good R:R.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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