GBP/USD is losing ground

GBP/USD is losing ground


SELL 1.3390

SL 1.3445

TP1 1.3290 TP2 1.3170

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615. Failure points at their weakness. The pound formed a pin bar. If bears manage to reach targets, the risks of going to 88.6% target of the “Double top” will significantly increase.


On H1, if GBP/USD falls below May minimum at 1.3390, the decline will intensify.




Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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