Jal121

GBP/USD - 200 pip Bearish Move 1.37 - 1.35

OANDA:GBPUSD   British Pound / U.S. Dollar
After touching the top of our ascending channel price has formed lower highs and lower lows including one break of a very key 4hr level.

Price has moved 200 pips and currently finding some bulls sitting at 1.35.

We have a very strong daily chart level at 1.34.

Fundamentally, we have possible reasons why we could see USD bulls continue to take the dollar higher this week. For the GBP Covid cases continue to rise across London and some parts are experiencing 1 in 20 people having the virus.

So, our fundamentals are in line with are technicals which could well mean more bearish pressure on the pair.

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