The GBPUSD had a strong bearish momentum yesterday bottomed at 1.3102. The bias is bearish in nearest term testing 1.3100 – 1.3050 key support, which is a good place to buy with a tight stop loss as a clear break and daily/weekly close below that area could trigger further bearish scenario next week targeting 1.2850 region. Immediate resistance is seen around 1.3180. A clear break above that area could lead price to neutral zone in nearest term testing 1.1.3220 or higher. Overall I remain bearish.
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Hi William, I’ve been a bear on GBP for a year now and will wait to see if 1.30500 support breaks as this seems to be the only thing stopping the pair from going lower at the moment. If it breaks below a sell towards 1.2790 (Post-Brexit low) and then to 1.2500 from 1984.