The GBPUSD continued with a sell off yesterday.
This morning the charts are printing lower highs and higher lows, as a triangle traps the candles.
But, as we can see from the charts the USD is much stronger and there is still room for the candles at the bottom.
GBPUSD forecast for today.
If the pair is to continue short, then we expect traders to sell the pullbacks comfortably dropping the price below 1.2180
A change of control, to the bull, will see price break the 4 hour down trendline searching for the weekly pivot 1.2323
One thing you need to keep in mind; traders are attracted to support resistance levels. Just, look through the charts and you will notice the consistency.
Also be aware of the important GBP and USD fundamental news coming in tomorrow that may impact the days trading.
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