Chart in Focus: Daily GBPUSD
In our last discussion of the GBPUSD, we talked about the inside bar signal from September 24th and the potential for the recent downtrend to resume from it. We can see in the chart below that on Friday price fell modestly lower and bearish momentum appears to have taken back over this market for now. We are looking at the support near 1.6050 as a potential first target area / support area in this market this week.
In our last discussion of the GBPUSD, we talked about the inside bar signal from September 24th and the potential for the recent downtrend to resume from it. We can see in the chart below that on Friday price fell modestly lower and bearish momentum appears to have taken back over this market for now. We are looking at the support near 1.6050 as a potential first target area / support area in this market this week.
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