GBP/USD chart is very negative, reinforcing the overall bearish market

Cable closed under the 1.3166 Fibo at the end of March, a very bearish sign

1.3166 Fibo is a 38.2% retrace of 1.1413 to 1.4250 (2020 to 2021) rise

Bearish outlook reinforced by fourteen-month momentum that remains negative

Odds grow for a drop to test the 30-day lower bollinger-band now at 1.2954

GBP/USD Trader TGM2338 Previous update nL2N2W50CZ