Likelihood of GBP/USD reaching 1.1900 on US Dollar weakness
Sudden US dollar strength on this week's market open has led to a sharp decline in GBP/USD.
However, the decline seems to have come to an end now as prices are consolidating.
If the 1.1650 level holds, there is a chance for GBP/USD to reach 1.1740, 1.18 and 1.19 eventually over the
next couple of days.
Please note that GBP/USD is still weak price may drop below 1.15 if US dollar strength persisists. So, bullls
must be careful before going long. Personally, I went long in GBP/USD@1.1654 with a small lot size.
However, the decline seems to have come to an end now as prices are consolidating.
If the 1.1650 level holds, there is a chance for GBP/USD to reach 1.1740, 1.18 and 1.19 eventually over the
next couple of days.
Please note that GBP/USD is still weak price may drop below 1.15 if US dollar strength persisists. So, bullls
must be careful before going long. Personally, I went long in GBP/USD@1.1654 with a small lot size.