GBP/USD Bears Are in Full Control

Dear Traders,

The cable has been very bearish. I expect the bearish continuation towards 1.2007 and 1.1914 if the price closes below 1.2080.

Strong downtrend marks the bias on the GBP/USD pair. At this point we can see that 1.2083 M L5 (Strongest monthly support) is supporting the move. If the pair closes below it, it will be extremely bearish and we should see a continuation towards W L3 and W L4. Selling on rallies is the option. 1.2190 zone could be good for fresh sellers.

The Analysis has been done with the CAMMACD.Core and Sit Systems