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Sep 11 - 08:55 AM

GBP/USD - If GBP/USD Breaks 1.2690 The Pound Could Crash

By Jeremy Boulton  —  Sep 11 - 06:40 AM
  • If GBP/USD breaks under 1.2690 expect a big drop

  • That would be a break below 100, 200-DMAs and daily Ichimoku cloud

  • Cloud base is equivalent to 38.2% retrace rise from March 2020 low

  • It's a drop that few traders are prepared for nL1N2G809F

  • A closing break would force traders to adjust and forced moves are big moves

  • The last similar breakdown was in March when cable reached 1.1413

  • In March traders were in a worse position, longer pounds

  • Related EUR/USD comment nL1N2G8076




GBP/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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