GBPUSD – Offering A Breakout Pullback Setup | Mar 20th
GBPUSD – The Breakdown Continues
As suggested in the members commentary recently, the pair closed below the key channel, hinting the pair was in for further losses. The pair pulled back to 1.6567, then sold off touching the ‘big figure’ at 1.6500.
The sell-off has found bulls along the way, suggesting they are still present, just not dominant. As long as this pattern continues, and they do not ‘recover‘ a key level, look to sell on a breakout pullback setup towards the 1.6566 -1.6584 zone. Downside targets are 1.6500 and 1.6300.
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