GBPUSD: Sentiment is changing

14 בספט׳ 2019

Analyzing weekly timeframe on GBPUSD we see that there is nothing strange that the market turned bullish!
GBPUSD has recently reached 2016th low and buyers came into play, buying cheap pound.

Most likely bulls will continue pushing the market higher.
On my focus is 1.265 - 1.280 zone,
it will be a decision point for the market,
so those, who took GBPUSD from lower levels,
consider this zone for profit taking.
and for counter trend traders it is a perfect zone to catch a pullback.

then, two scenarios are possible:
the market respects the zone and we will see the retest of the market low

or

bulls break above the zone and we will see bullish continuation to higher structure levels