GBP/USD still under pressure

BIG volume below 1.3070
Long targets hit
Sellers jumping in

Orlando Gutierrez Learn 2 Trade

The GBPUSd had a big rally yesterday due to news that PM Johnson was reshuffling his cabinet and that might point to further easing. Technically speaking the GBPUSD is still under a lot of pressure under 1.3200 which is the make it or break it zone since it's here that we've had BIG sellers smashing the Pound down against the USD.

Yesterday rally was short lived and sellers jumped in again at the previous highs and the top of the rising green structure, short term buyers taking profit here also induced bearish pressure. Now the GBPUSD has break out of a reversal pattern at the top of the move under a BIG volume zone and everyhting points at a dip to retest the lows or at least the 1.2960

Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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