$GBPUSD struggling at 1.2700 - What's next?

asked by u/oil_baron_raj · 4d · 4 answers

$GBPUSD has been chopping around 1.2700 all week. Seems like bulls are running out of steam after the recent rally. Is this a healthy consolidation before another leg up, or are we looking at a reversal back towards 1.2600? BOE decision next week could be a catalyst.

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Top answers

  • u/marcus_fx· 39 pts· 3d

    Could be a flag pattern forming for a breakout higher. Patience.

  • u/range_rider_yuki· 37 pts· 2d

    I'm expecting a retracement to 1.2650 before any further upside.

  • u/swing_samir· 20 pts· 2d

    Too much uncertainty with the BOE. Staying out until next week.

  • u/marcus_fx· 18 pts· 3d

    Looks like distribution to me. Shorting any rallies towards 1.2720.

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