BritishPound Gets Hammered to Form a Potential Double Top $GBPUSD GBPUSD forextrading Trader forex FX
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While the US dollar is rather weak, it’s saying that the British pound has been absently crushed against most currencies during the day, and of course, we’ve seen a bit of a “brick wall” in this general vicinity.has fallen during the trading session on Thursday, as the Bank of England continues to see headwinds down the road.
While the US dollar is rather weak, it’s saying that the British pound has been absently crushed against most currencies during the day, and of course, we’ve seen a bit of a “brick wall” in this general vicinity. If the US dollar suddenly strengthens against other currencies, it could be brutal when it comes to this pair. I’ll be watching this pair closely because if we suddenly get a ride back to the greenback, I’m going to get aggressively short.
If we break down below the most recent swing low, it fires off a major “Emma pattern”, and could lead to the British pound going down to the 1.15 level over the longer term. Anything is possible on a Non-Farm Payroll Friday, so be cautious and keep your position size reasonable.
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