The pair printed equal highs, and bulls failed terribly to push price higher which in this case is a sign of bullish weakness. Seeing that US dollar index is also rebounding, we can expect GBPUSD to further weaken this coming week. I expect the weak demand to be violated to the bottom and price continue to decline towards 1.15395.
We will be monitoring price for possible short positions on this pair on Monday London Open.
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US dollar index
We will be monitoring price for possible short positions on this pair on Monday London Open.
Please do consider leaving a like if you find this idea helpful.
Trade smart.
US dollar index
