GBPUSD is basically stuck in the 180 points range for over a month. I was looking for a possible breakout yesterday but no, price is still in a range.
Again I have no strong views on GBPUSD except to possibly take it level by level. Yesterday's move formed yet another doji but a bearish one. It is reasonable to expect GBPUSD to go down further today given that Fed is not going to cut rates early, but IMO better to stay prudent and take it level by level.
Trend is down; a possible retest and failure of 1.2700/710 is a possible short to target 1.2648 and 1.2606. But I will not be surprised if 1.2648 holds again for a move back up, as the ranging continues.
Again I have no strong views on GBPUSD except to possibly take it level by level. Yesterday's move formed yet another doji but a bearish one. It is reasonable to expect GBPUSD to go down further today given that Fed is not going to cut rates early, but IMO better to stay prudent and take it level by level.
Trend is down; a possible retest and failure of 1.2700/710 is a possible short to target 1.2648 and 1.2606. But I will not be surprised if 1.2648 holds again for a move back up, as the ranging continues.
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