As we did predict yesterday, price did test 1.21701 where it found buyers who moved it back finally settling again around the 1.22167 key support level.
It is a tug of war indeed.
Who wins the war? Let’s look at the charts for clues.
GBPUSD forecast for today.
If bear strength brings the price back to 1.21701 then it is likely to shoot below 1.20868
If the 1.21701 support level holds, we may have ourselves more buying momentum.
Bulls will want to recover this week’s losses.
In that case we shall see a sharp rise to the daily pivot 1.23882 and a mad hunt for levels above 1.24715
I hope you have yourself a great and profitable trading day and a nice weekend.
Hit the bell icon on the bottom right of this page to subscribe for notifications and follow me on Twitter @thetraderinyou to be the first to know when an article like this is published.
Happy trading.#COVID-19 is real, be safe. #Trade safe and follow your rules. #forex #investment Click To Tweet