GBP/USD rebounded strongly after diving to 1.0351 final week. Preliminary bias is mildly on the upside this week. Additional rally could be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the draw back, break of 1.0760 minor assist will point out that the rebound is over, and convey retest of 1.0351 low.
Within the greater image, fall from 1.4248 (2018 excessive) is resuming long run down pattern from 2.1161 (2007 excessive). Subsequent goal is 100% projection of two.1161 to 1.3503 from 1.7190 at 0.9532. There isn’t a scope of a medium time period rebound so long as 1.1759 assist turned resistance holds.
In the long run image, long run down pattern from 2.1161 (2007) excessive continues to be in progress. Subsequent goal is 100% projection of two.1161 to 1.3503 from 1.7190 at 0.9532.
