GBPUSD Trade Idea
Due to the Brexit no deal, GU has been in a range bound condition bouncing between 1.33 - 1.35 zone. However, after some strong rise (post-Covid), GU is currently forming a broadening top pattern where usually it could possibly send the price higher. 1.3390 still serves as a key technical resistance where market could still reject off and resume it's range bound condition. But if GU is showing sign of weakness breaking below 1.3250, it still has potential to spike up and bounce back above the 1.33 range. Preferably taking some range setups instead of targeting some multiday-breakout due to the current fundamental situation, but be aware of spikes, have a wider stops and do not be greedy.
Trade safe and stay discipline.
Trade safe and stay discipline.
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