Technically, the GBPUSD market operation is still under a bearish pressure. On the daily timeframe, the 1.42400 area (purple) has held as a major horizontal resistance since the bullish swing from the 1.35600 area (navy) on February 4. On July 20, price action retested the 1.35600 area (navy) and rejected it with a bullish drive. Meanwhile, price action is sideways after making a 61.8 Fib retracement of the 1.41320/1.35700 bearish swing. Technically, the market is under bearish pressure, and we will likely see a southward continuation.
I may be wrong. Trade safe and prosper. So, please trade based on your own trading rules and analysis.
KP
I may be wrong. Trade safe and prosper. So, please trade based on your own trading rules and analysis.
KP
Do your homework, follow the footprints of smart money