Forex Signal For GBP/USD: Extremely Bearish Ahead of UK GDP Data.
Forex Signal For GBP/USD: Extremely Bearish Ahead of UK GDP Data.
The pair will likely continue to decline as the bears target the first support of the standard pivot point at 1,3385.
Bear Market Outlook
- Sell GBP/USD and set to take a profit at 1,3380 (S1).
- Add a stop-loss at 1,3600.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Extremely Bearish Ahead of UK GDP Data.
Bull Market Outlook
- Set a buy-stop at 1,3540 and a take profit at 1,3700.
- Add a stop-loss at 1,3400.
The GBP/USD price has dropped as traders reflect on strong US inflation data, with focus shifting to UK GDP figures to be released in the morning. It is trading at 1,3515, about 0,70% below this week's high.
You may also be interested in: