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KaltoireCapital

GBP/USD may fall further to 1.2630

British Pound / U.S. Dollar (FX:GBPUSD)  
KaltoireCapital Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade
GBP/USD has been on the backfoot lately with price falling more than 150
pips after touching 1.2880 level a couple of weeks ago.

We witnessed a false breakout of the resistance level and since then, GBPUSD is
on a downtrend. With FOMC on Tuesday, we could have wild swings on all USD
pairs including GBP/USD.

So, we recommend traders to be careful as price could fall further to 1.26 and even
lower if Federal Reserve decision is not in line with market expecations.
Comment:
That being said, we are seeing some amount of support in the 4H chart. So, if the 1.2620 level holds, price could make a recovery to 1.2750 or beyond
Comment:
Price is still hovering around the 4H dynamic support level
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