Forex Signal For GBP/USD: Possible Pullback Ahead of US GDP Data.
Forex Signal For GBP/USD: Possible Pullback Ahead of US GDP Data.
The pair will likely continue to decline as the Bear Market targets the 50% retracement level at 1,3466.
Bear Market Outlook
- Set a sell stop at 1,3650 (38,2% retracement).
- Add a take profit of 1,3465 (50% retracement).
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Possible Pullback Ahead of US GDP Data.
Bull Market Outlook
- Set a buy-stop at 1,3865 and a take profit at 1,3950.
- Add a stop-loss at 1,3750.
GBP/USD fell as traders reflected in Rishi Sunak's budget speech and relatively strong US durable goods orders, with the pair trading at 1,3723, roughly 0,80% lower than this week's high.
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