GBPUSD Trading idea for the week of 7-May-2018

GBPUSD has fallen rather significantly for three consecutive weeks, and we can see that an important uptrend has been broken. This is a very important development for this pair.


Week economic data from UK has contributed to this, in addition to the strength of US Dollar.
Trading Preference


Preference is to sell the pair. It is possible that the pair can bounce up and test the trend line before the continuation of the move to the downside. However, break below last week’s low can also be a good opportunity to sell the pair.

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