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GBP/USD: a U-turn at lower levels?
2021-01-22 • Updated
GBP/USD was above 1.37 a while ago, spent some time there, and went downwards. We were correct to expect that it would reverse the gains adn go down. 1.3650 seems to be the target for bears now. What will they do?
Primary scenario: the bearish wave will not exhaust itself until it goes through the support channel 1.3630 - 1.3650; after that, GBP/USD will get back up to 1.37 and beyond.
Secondary scenario: GBP/USD drops lower to 1.36 and takes much more time between 1.36 and 1.3650.
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
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