1,9724. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The price should find a support above 1,9700. If the support is broken then the target will be 1,9500.
=> We could take a short position at 1,9725. We will put the stop loss above 1,9760 (-35 pips). The targets are 1,9600 (+125 pips) 1,9500 (+225 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
1,9740 - 1,9760 - 1,9790
1,9700 - 1,9680