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Trade Idea Update: GBP/USD - Sell at 1.2770 or buy at 1.2580

Discussion in 'Forex Trading Signals & Forecasts' started by Lily, Oct 6, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    As the British pound has fallen again after meeting renewed selling interest at 1.2771, adding credence to our bearish view that medium term downtrend is still in progress and may extend weakness to 1.2600-05, however, loss of downward momentum should prevent sharp fall below 1.2580-85 (50% projection of 1.3059-1.2685 measuring[​IMG]

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