After a bearish move succeeding a head and shoulders pattern on GBPUSD, price has moved back into the important zone where bears have pushed it down into the support area. There may be some bullish momentum in the next week as bulls push price up towards the resistance. Maybe even towards the recent head in order to form a double top.
In the longterm, my outlook on GBPUSD is still bearish due to the fundamental implications and uncertainty caused by Brexit and the upcoming exit day for the UK on October 31st.
In the longterm, my outlook on GBPUSD is still bearish due to the fundamental implications and uncertainty caused by Brexit and the upcoming exit day for the UK on October 31st.
Comment:
Today after Brexit plans where presented GBP rose into the target. I am now expecting a bearish pull back.
Trade closed: stop reached