GBPUSD Trade Idea

Dec 18, 2020

GU is performing as planned, had an impulse & correction phase, now pushing higher. Personally, I expect the market to perform some deeper pullback towards 1.3470 (support of the range) or even lower for buyers to again find interest in the pair as the market is over-extended. If there's a rejection at 1.3470, we could expect the market to re-test the recent high (1.3620) with 1.38 as the further target. However, be aware of any breakout setup as we might see some short-term range bound condition the following week.

Trade safe.