GBP/USD: pound is suffering
Read the article on FBS website
Recommendation:
SELL 1.2730
SL 1.2785
TP1 1.2630 TP2 1.2570 TP3 1.2080
On the daily chart, GBP/USD is forming a “Spike and reversal with acceleration”. Bears are dominating at the market. As long as the pair is below the trend line of the initial stage at 1.2920, it’s recommended to sell the pound on the recoveries.
On H1, GBP/USD bears reached targets of the “Shakout-Fakout” pattern. If the pair returns to the middle of the 1.2730-1.2790 consolidation range, it will be time to sell. There’s also reason to use the retest of resistance at 1.2730 for selling.
