Forex Signal For GBP/USD: Bearish Momentum to Increase Value
Forex Signal For GBP/USD: Bearish Momentum to Increase Value
The pair will likely continue to decline as sellers target the second support at 1,1770.
Bear Market Outlook
- Sell the GBP/USD pair and take a profit at 1,1770.
- Add a stop-loss at 1,2020.
- Timetable: 1 day.
Forex Signal For GBP/USD: Bearish Momentum to Increase Value
Bull Market Outlook
- Take a buy stop at 1,2010 and a profit at 1,2110.
- Add a stop-loss at 1,1830.
The GBP/USD pair fell sharply in the overnight session as investors rushed to the safety of the US dollar and dropped to a multi-month low of 1,1892, significantly below last week's high of 1,2331.
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