07 October 2020, GBP/USD
Technical Observation
Just as previously anticipated, the British pound continued to the lower side and is still very much bearish. Following the bounce from around 1.30267-1.29994, we expect nothing but a possible momentum to the lower side. The price basically should hit the support level 1.27168 and could breakout much lower. And on the flip side, should the price breakout above 1.30267, then this will be a good place to consider a possible momentum much higher with an ultimate target set around 1.34300.
Trade Recommendations:
Sell GBPUSD with your target at 1.27168.
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