Forex Signal For GBP/USD: Sterling High Likely to Drop to 1,1400.
Forex Signal For GBP/USD: Sterling High Likely to Drop to 1,1400.
The
GBP/USD pair has continued its downtrend over the past few days.
Bear Market Outlook
- Sell GBP/USD and take a profit at 1,1400.
- Add a stop-loss at 1,1600.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Sterling High Likely to Drop to 1,1400.
Bull Market View
- Set a buy stop at 1,1550 and a take profit at 1,1650.
- Add a stop-loss at 1,1450.
The GBP/USD price fell to its lowest level since 1985 against the US dollar as investors focused on weak economic data from the UK, while Lizz Truss later rebounded a bit after defeating Rishi Sunak to become UK prime minister.
It rose to 1,1518 from Monday's low of 1,1445.
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