Forex Signal For GBP/USD: Looks Likely to Drop to 1,2200
Forex Signal For GBP/USD: Looks Likely to Drop to 1,2200
The parity is likely to continue dropping today, given that it poses a slight downward trend.
Bear Market View
- Sell the GBP/USD pair and set a profit at 1,200.
- Add a stop-loss to 1,2412.
- Timeline: 1-2 days.
Forex Signal For GBP/USD: Looks Likely to Drop to 1,2200
Bull Market View
- Set a buy stop at 1,2412 and set a profit at 1,250.
- Add a stop-loss at 1,2350.
The GBP/USD couple dropped last week to a several-year low after the bank of England's (BOE) dovish rate hike, falling in the wake of the FOMC decision and the continued strength of the US dollar amid US NFP data.
The UK is traded at 1,2335, ahead of significant UK and economic figures.
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