Forex Signal GBP/USD: A Short Retracement From Ascending Upswings
Forex Signal GBP/USD: A Short Retracement From Ascending Upswings
The
GBP/USD price has seen a strong decline in recent days as investors worried about the UK economy.
Bull Market Outlook
- Buy GBP/USD and take a profit at 1,1600.
- Add a stop-loss at 1,1400.
- Timeline: 1 day.
Forex Signal GBP/USD: A Short Retracement From Ascending Upswings
Bear Market Outlook
- Take a sell stop at 1,1450 and a profit at 1,1350.
- Add a stop-loss at 1,1520.
The GBP/USD pair retraced slightly after falling to its lowest level since 1985, while the pair fell to 1,1408, about 7,28% below its August high.
After the Fed releases its Beige Book at the end of each August, it pulled back a little further in the nighttime session.
You may also be interested in: