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The GBP remains a very bearish pair and with data out of Canada today coming in as expected on rates, the price action behavior from this pair indicates it will continue lower. The recent breach of 1.8280 is where the D10EMA sits and is now below all of the major moving averages on all three DWM timeframes. These theme is proven wrong above 1.85 but if momentum continues we are unlikely to breach 1.83 before reaching 1.80.
The GBP remains a very bearish pair and with data out of Canada today coming in as expected on rates, the price action behavior from this pair indicates it will continue lower. The recent breach of 1.8280 is where the D10EMA sits and is now below all of the major moving averages on all three DWM timeframes. These theme is proven wrong above 1.85 but if momentum continues we are unlikely to breach 1.83 before reaching 1.80.