GBPUSD → Negative fundamental background. Going to 1.2500

6 nov

GBPUSD is reversing after a retest of strong resistance with no opportunity to enter the liquidity zone. The negative fundamental background is confirmed.



The dollar is flying upwards. News channels and not only already declare about the victory of Trump, whose policy is directed towards the strengthening of the dollar. Markets are starting to react accordingly.
As for GBPUSD, in the last article I focused your attention on 1.2813 and 1.305: If after a pullback to the resistance the price starts to retest the support, the chances of a breakdown and further decline will increase.
The fundamental background, formed at the moment, is favorable for the fall of the currency pair.

Resistance levels: 1.294, 1.30, 1.3044
Support levels: 1.2813, 1.2672, 1.25

The technical and fundamental background are going in the same direction. Emphasis on the key support. A slight pullback is possible before further breakout. Also continue to follow the news!

Rate, share your opinion and questions, let's discuss what's going on with ★ GBPUSD ;)

Regards R. Linda!