Hi,
The GBPUSD has formed a channel to the down side. It looks more like a pullback. If it can stay below 127800 we need to be looking for bearish plays, with targets to the 127000 handle.
At the 127000 handle we need to be looking for some reaction, unless there is strong fundamental reason to keep going short.
If there is still shorting pressure, target would be the 125000 handle.
All the best,
Tan
The GBPUSD has formed a channel to the down side. It looks more like a pullback. If it can stay below 127800 we need to be looking for bearish plays, with targets to the 127000 handle.
At the 127000 handle we need to be looking for some reaction, unless there is strong fundamental reason to keep going short.
If there is still shorting pressure, target would be the 125000 handle.
All the best,
Tan