Forex Signal For GBP/USD: Sterling Expected to Pull Back to 1,1750 as Selling Increases.
Forex Signal For GBP/USD: Sterling Expected to Pull Back to 1,1750 as Selling Increases.
The pair is likely to continue its downtrend as long as sellers target the second support at 1,1738.
Bear Market Outlook
- Sell GBP/USD and take a profit at 1,1750.
- Add a stop-loss at 1,2000.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Sterling Expected to Pull Back to 1,1750 as Selling Increases.
Bull Market Outlook
- Set a buy stop at 1,1950 and a take profit at 1,2033.
- Add a stop-loss at 1,1850.
The GBP/USD price fell slightly ahead of the upcoming UK GDP and US consumer inflation data, while the pair rose as investors continued to monitor ongoing political developments.
It rose to 1,1935, slightly above 1,1815 this week's low.
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