GBPUSD looking Bearish
In the overall outlook, GBPUSD looks bearish according to Technical Analysis. With the long Impulse leg to the downside, signifying the first phase of the Elliot Waves, we are almost sure that the trend direction has changed but be careful. There should be a slight pullback into the most recent Order Block just a little bit above, before finally crashing to the downside. For clarity, you could use the Fibonacci tool to confirm zones before entry although we could also see a crash from the current region.
We should see price crashing down all the way to 1.24856.
We should see price crashing down all the way to 1.24856.
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