GBPUSD FURTHER RECOVERY.

3 thg 10, 2021

GBPUSD
with last weeks crisis GU had been under a lot of pressure. however the pound managed to recover over 50% losses towards the end of the trading week.
potential outcome could see us retracing into the 1.35 area for a perfect support resistance set up which also corelates with our fib zones. and the news of interest rates rising in early 2022 could give the pound the boost it needs to bounce off strong from this psychological level. the us dollar index is also showing signs of bearish pressure as it creates a lower low on the hourly time frame. so a potential lower high would correspond with our GU pull back into the 1.35 :)