GBP/USD Should Proceed Down If the Price Gets Below Weekly Pivot Point
The GBP/USD has been ranging but recent rejections suggest we might see a bearish continuation on a 4h / D1 close below Weekly PP.
Technically the price has just closed below Weekly pivot and trend line confluence while still being capped below W H3 camarilla pivot. This is suggesting a further continuation down if the price manages to stay below weekly pp. Targets are 1.2594 and 1.2553. Only a 4h close above W H3 – 1.2680 will be bullish for the GBP/USD as the POC zone 1.2660-75 is another rejection point where fresh sellers are waiting.