GBP/USD: pair has plunged

GBP/USD: pair has plunged


The pair has plunged. It's likely that bears are going to test the next support at 1.2994 - 1.2977. This area could be a departure point for an upward correction towards the nearest resistance at 1.3061 - 1.3169.


The market has been declining since the last 'Double Top' was formed. At the same time, it's likely to have a correction. So, we should keep an eye on the closest resistance at 1.3032 - 1.3047. This area could be a departure point for another decline.



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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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