Gbpusd opened the week in the weekly sell zone between WM3 & WPP and moved to the downside throughout the week. Unlike EURUSD, this pair did not react to the weekly NFP print, as Pound remained weaker even after the release of the numbers. By Friday’s close price was @ 1.30168, and this area coincides with MM2 & next weeks WM2. At the rate that price is falling even though the price is @ a confluence of support pivots, bulls will have to wait for a reversal pattern to confirm a change in trend. Taking a monthly view, this pair opened @ MM3 for bears and from that resistance pivot, the monthly target is MM1.

GBPUSD H4

GBPUSD H1

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