GBP/USD is under pressure

GBP/USD is under pressure

Trade idea

SELL 1.2940; TP1 1.2890; TP2 1.2865; SL 1.2955

GBP/USD formed a lower high just above 1.30 (psychological level, 50-week MA). It’s now hovering at the 200-day MA in the 1.2955 area. Daily Awesome Oscillator is at the negative territory. On H4, the 50-period MA is about to decline below the 200-period MA confirming that the market has topped in the near term. As long as the pound is trading below 1.2985, bears will dominate the market.  

gbpusd 14.png

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