Forex Signal For GBP/USD: Bear Market Dominates Situation.
Forex Signal For GBP/USD: Bear Market Dominates Situation.
The pair is likely to drop to the 38,2% Fibonacci retracement level.
Bear Market Outlook
- Sell the GBP/USD pair and take profit at 1,3420.
- Add a stop-loss at 1,3650.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Bear Market Dominates Situation.
Bull Market Outlook
- Set a buy-stop at 1,3580 and a take profit at 1,3650.
- Add a stop-loss at 1,3500.
GBP/USD is trading at 1,3555, about 1,45% below this month's high, as the bearish trend continues on Monday as investors react to overall risk aversion and weak UK retail sales data.
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