4
OBby u/oil_baron_raj·1mo

$GBPUSD struggling at 1.2700 - What's next?

$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.

4 comments · 4 points

4 Comments

MFu/marcus_fxUnited Kingdom·1mo

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

4
RRu/range_rider_yuki·1mo

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

1
MFu/marcus_fxUnited Kingdom·1mo

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

1
SSu/swing_samirIndia·1mo

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

-1

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