GBP/USD Reached To Bottom Or Its …
The story was here since the beginning
“Break of 1.2750 the last low will confirm this bearish case and would target next projection level at 1.23-1.24. On the upside, above 1.3170 minor resistance will possibly extend the consolidation pattern ,In the bigger picture, the down trend is still in progress”.
GBP/USD remains in sideway consolidation,Still, near-term outlook remains bearish with 1.2476 minor resistance intact. As long as GBP USD remain Below 1.2060 it will turn bias to the downside for 1.1900 area. Break there will extend the larger down trend. On the upside, break of 1.2260-1.2330 will suggest short term bottoming and bring rebound
break of 1.3568 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish
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