GBP/USD is losing ground

GBP/USD is losing ground

Recommendation:

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.

GBP1.png 

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

GBP@.png

gbp

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Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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