As we are getting closer to the next trading week I am keeping a close eye on GBPUSD
next week. We have seen very strong bearish
momentum recently and I do believe it will carry on selling off however there needs to be some sort of correction/retracement before this bearish
move continues. Price is currently respected a nice little descending trend line
which gives me a slight confluence to believe this may be a buy level for myself however I will not be surprised if we see a bigger move to the upside potentially even coming up to the highly respected 1.4000 level. Overall I am still currently bearish
on this pair and am looking forward to seeing how the next week goes.
Please let me know what you guys think on this pair and what you think of this small bit of analysis :)