1
REby u/renzhou·2dAnalysis

GBPUSD - Watching 0.8130 for a potential bounce or break

Hey everyone,

Been keeping a close eye on $GBPUSD today. It's been a bit of a grind, obviously down a bit, currently sitting around the 0.81345 mark. What's catching my attention is this area just below 0.8130. Looking at the daily, it's acted as a pretty significant support level previously. If we see price stabilize there and show some buying interest, it could offer a bounce opportunity back towards the intra-day highs we saw earlier around 0.8235. The risk on that idea, for me, would be a clean break and close below 0.8130. If that happens, especially on decent volume, I'd expect further downside pressure, probably targeting something closer to the lows we saw in late May.

It's still early in the session for a definitive call, but the 0.8130 level feels pivotal right now. Wondering if anyone else is watching this, or has a different perspective on $GBP's current behavior against the dollar?

1 comments · 1 points

1 Comments

OBu/oil_baron_raj·2d

Considering the current bearish momentum, that 0.8130 support might not hold. A break there could see it drop further, so I wouldn't be looking for a bounce without stronger confirmation.

1

More like this