Looking for a pullback in GBP/USD
GBP/USD has declined rapidly over the last couple of weeks but the bearish move
has slowed down a bit. Price is in a consolidation mode and we might see a pullback
to 1.19. The RSI also suggests that the bearish momentum has ended.
Long trades could be considered as long as gbpusd stays above 1.16. A bigger recovery
in prices will mean that GBPUSD can also reach 1.23 in the next few weeks. A lot depends
on the political situation developing in the UK
has slowed down a bit. Price is in a consolidation mode and we might see a pullback
to 1.19. The RSI also suggests that the bearish momentum has ended.
Long trades could be considered as long as gbpusd stays above 1.16. A bigger recovery
in prices will mean that GBPUSD can also reach 1.23 in the next few weeks. A lot depends
on the political situation developing in the UK
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