Forex Signal For GBP/USD: Recovery Rally Has More Space to Execute
Forex Signal For GBP/USD: Recovery Rally Has More Space to Execute
This relief rally means the pair is likely to continue its downtrend as it becomes part of a breakout-retest approach.
Bear Market Outlook
- Set a sell limit at 1,3750 (bottom of descending channel).
- Set profit at 1,3650 and add stop-loss at 1,3850.
- Timetable: 2 days.
Forex Signal For GBP/USD: Recovery Rally Has More Space to Execute
Bull Market Outlook
- Set a buy-stop at 1,3785 and a take profit at 1,3850.
- Add a stop-loss at 1,3700.
GBP/USD price skyrocketed on Monday as risk-taking sentiment spread in the financial market. The pair is trending higher to 1,3724 from last week's low of 1,3600.
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