The GBP/USD has formed a bearish pattern below the channel and we could see downward continuation.
The fear of further CoronaVirus outbreak is spreading through Forex and Equity markets. Currencies had a rollercoaster last week with very slow and range bound conditions. The GBP/USD has formed 1-2-3 bearish patterns on the 4h timeframe and we might see a drop. The pair is bearish but momentum below 1.2360 should expose 1.2300 and 1.2290 as the intraday target. Strong downside momentum without any roller coaster (read: clear trend) should target an even lower zone at 1.2240.
Many green pips,
Nenad Kerkez aka Tarantula FX