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How to trade GBP/USD?

How to trade GBP/USD?

Information is not investment advice

Last week GBP/USD has failed to stay above the 200-week MA (1.3065) for the second time. The pair has made a series of lower highs and is currently testing levels below the key psychological level of 1.30. The next important level on the downside is support at 1.2950 (the line connecting November and December lows). On the D1, the Awesome Oscillator topped and reached the 0 line. The fall below 1.2950 will open the way down to 1.2900. The key support will be located at 1.28 (the line connecting 2019 lows). On the upside, the return above 1.3020 is needed to allow a recovery to 1.3060.

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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!

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