GBPUSD Deviation Hints at Weakness | Forex Factory

  • GBPUSD Deviation Hints at Weakness

    From dailypriceaction.com

    GBPUSD is in a long-term downtrend but a short-term uptrend. So without a shift in the secular downtrend marked by a higher macro high, any rallies are corrective and thus prone to fail. We may be witnessing one such failure this month. The GBPUSD has trended higher since late September, carving higher highs and lows. However, the daily and weekly time frames suggest weakness that began last Thursday. You can see from the weekly chart above that GBPUSD formed a rather bearish-looking candle last week at the 1.2300 handle. It isn’t a bearish engulfing candle, nor is it a pin bar, but it does suggest fatigue from ... (full story)

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Trader#9EEA
Dec 19, 2022 9:55pm
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Gbpusd is still fundamentally very strong and will push big heights at the turn of the year. Certainly weakening relatively only momentarily into value. I’d say 1.14-1.16 zone should provide the best platform for the next hot leg up. I.42 - 1.50 is still in focus for this awesomeness of a pair.
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