GBPUSD - H1 Forecast

17 May 2019

All across the board we have seen a very bearish Pound. GBPUSD has surpassed it's weekly 1.30000 price zone which acted as previous support on both Daily and Weekly time frames. A correction to the upside is due, targeting 1.28600 as re-entry for shorts to take place. The 1.28600 zone is crucial as it pin points the 50% retrace of this weeks candle. If fundamentals stay in favor of a bearish Pound then expect to see a bullish start to this upcoming trading week, followed by a wick pushing price back to to the downside.