GBPUSD 1D

- closed bearish on the week as expected with the deadline to Brexit approaching.
- We expect this sentiment to continue with the strength and weakness tables also suggesting GBP continuing to weaken.
- Technically reversed from 1.2582 extended lower last week and broke 1.2283 support.
- Medium term GBP/USD rebound from 1.19580 could have completed at 1.25821.

TWO POSSIBLE SCENARIOS:
- Bias is mildly on the downside this week. If we break successfully 1.22000 low then price could be retesting 1.1946 key support next.
- Upside, break of 1.2582 will resume the rebound to 61.8% retracement of 1.3381 to 1.1958 at 1.2837.

***Sustained trading above 55 week EMA at 1.2742 will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance.
****Decisive break of 1.1946 will resume downtrend from 1.7190 to 1.1946 from 1.4376 at 1.1135.

Regards, GoldfXcc