GBP/USD May fall 80-100 pips
Insight - Price has pushed back up just below resistance at 1.2222 and support now at 1.2040 after forming a double bottom. Two touches at the resistance line after possibly a third rejection, this could mean more downside if entry for the sort is reached.
Intraday - 4H
Trade: Sell
Sell or Below 1.2040
Entry: 1.2117
Target TP: 1.2040 & 1.1915
Pivot and Support 1.2040
Alternative scenario:
Trade: Buy
Buy or Above: 1.1226
Target TP: 1.2297 & 1.2407
Insight - Price has pushed back up just below resistance at 1.2222 and support now at 1.2040 after forming a double bottom. Two touches at the resistance line after possibly a third rejection, this could mean more downside if entry for the sort is reached.
Intraday - 4H
Trade: Sell
Sell or Below 1.2040
Entry: 1.2117
Target TP: 1.2040 & 1.1915
Pivot and Support 1.2040
Alternative scenario:
Trade: Buy
Buy or Above: 1.1226
Target TP: 1.2297 & 1.2407