GBPUSD is under pressure which was intensified after Friday’s PA as I have stated in GBPUSD analysis . The pair is showing confluence at 1.4820 zone (DPP, 61.8. Trend line ) where it might reject towards 1.4760. We can also that pair is contained within 1.4863-1.4755 bearish range at the moment and the pair generally feels bearish. 1.4750 is the line in the sand which needs to be crossed for further continuation down towards 1.4720 and 1.4655. Today is the last day of the month and there could be some profit taking later. The pair should be contained below double top at 1.4863 to remain bearish. Any jump above 1.4863 could induce short covering which might push the price up toward 1.4880 and 1.4900.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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