GBPUSD: Breakout of Key Level & Bearish Continuation

FX:GBPUSD   British Pound / U.S. Dollar

hey traders,

what a short rally on GBPUSD on Friday!

the price has surely broken below a major daily structure support level.

now we will expect a further decline to the next major levels:
1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers.
1.19 level is 2016's structure low after brexit referendum/

pay close attention to these levels next week.

concerning trading recommendations, it is definitely too late to jump in.
the impulse is missed and it is very risky to short on current prices.
look for a pullback to a yesterday's broken structure to short.

good luck and have a great weekend!


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out