Bears have established their position in this market, with market structure being broken by breaking lows.
We are now at an area of major support as mentioned in my last GBPUSD post this could now give the pair the bullish strength it needs to rally to 1.24200 to give us a short trade.
We could however break this support level which would leave us on the sidelines until we get a retracemnt back up to 1.23513.
We are now at an area of major support as mentioned in my last GBPUSD post this could now give the pair the bullish strength it needs to rally to 1.24200 to give us a short trade.
We could however break this support level which would leave us on the sidelines until we get a retracemnt back up to 1.23513.