GBP/USD Trade Set Up
Daily trend line resisted a move to the upside and Friday's candle is very bearish - price action is in a wider bearish move adding weight to further downside potential.
As price has broken one weekly resistance (blue line) expect a test of another weekly level (arrow).
Upside potential remains with pricing in a short term up-trend, potential correction Monday with scope to sell on exhausted buying in the US/UK cross over - or to switch to short term buying - be alert.
As price has broken one weekly resistance (blue line) expect a test of another weekly level (arrow).
Upside potential remains with pricing in a short term up-trend, potential correction Monday with scope to sell on exhausted buying in the US/UK cross over - or to switch to short term buying - be alert.
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