GBP/USD: GBP is weak again
Read the article on FBS website
Recommendation:
SELL 1.27
SL 1.2755
TP1 1.26 TP2 1.24 TP3 1.227
On the daily chart of GBP/USD, bears managed to pull the pair to the bottom line of the triangle. A successful break of the support at 1.27 will lead the pair to the 161.8% target of the AB=CD pattern. Vice versa, a rebound will return the pair to the upper boundary of the downward channel.
On H1, the pair keeps reaching targets of the "Crab" pattern. Its 161.8% target is at 1.227. In case of the breakthrough of the support at 1.27, the AB=CD pattern with the 161.8% target will be implemented.
