GBPUSD - 4hr Weekly Outlook

GBPUSD has recently broken both a trendline and the last two lows that were made, all in a huge push to the downside. The market is highly overextended to the downside so we are expecting a retracement to at least the 38.2% or 50% zone. All intraday setups on this pair will be bearish and the max TP will be at the 27% fib extension where a huge demand zone is waiting. This setup correlates with the DXY (Dollar currency index) perfectly as it is also expected to pullback.

Kommentera:

GBPUSD has broken our retracement expectations, being able to hit the 78% level. A short setup is still posible.