GBP/USD remains in the lower third of the 23.6 to 0.00 Fibonacci level as it attempts to recover 1.2346 support that failed on Wednesday. A move below 1.2218 opens a possible retest of 1.1914.
BEARISH fundamentally and only a move above 1.2706 shifts the trend to BULLISH.
Very light GBP news week with just the Annual Budget Release Wednesday and Manufacturing Production on Friday.
Trade recommendation.
Look to BUY from the open if 1.2276 remains intact.
SELL at 1.2334 support turned resistance
SELL below 1.2218
BEARISH fundamentally and only a move above 1.2706 shifts the trend to BULLISH.
Very light GBP news week with just the Annual Budget Release Wednesday and Manufacturing Production on Friday.
Trade recommendation.
Look to BUY from the open if 1.2276 remains intact.
SELL at 1.2334 support turned resistance
SELL below 1.2218
