As a continuation to my earlier analysis (linked below). Yesterday GBPUSD reached the 1.3860 level and today it goes all the way to 1.3800.
NB: expect a quick reversal when it touches this area of support
Happy Trading
The reversal continues for the Pound and today it will test the 1.3900 level and most likely finish the day at 1.3860 as it fails to cross a descending resistance.
Happy Trading
As I mentioned yesterday, we are in the beginning of a reversal after a rejection at 1.4000. This will push the Pound all the way down to 1.3800.
Trade carefully and all the best.
As you can see from the chart on the 4H timeframe, I am noticing a reverse head & shoulder movement but in order to complete the second shoulder, it has to break the descending resistance line and I can see the GBPUSD going all the way up past 1.4200.
