GBP/USD is looking bearish this week, with the pair trading below 1.3100. Here are some potential trade ideas:
Bearish Scenario:
– Sell GBP/USD if it breaks below 1.3050, targeting 1.3000 and 1.2950.
– Stop-loss above 1.3150.
Bullish Scenario:
– Buy GBP/USD if it breaks above 1.3150, targeting 1.3200 and 1.3250.
– Stop-loss below 1.3050.
Key levels to watch:
– Support: 1.3050, 1.3000, 1.2950
– Resistance: 1.3150, 1.3200, 1.3250
The market is expecting a Federal Reserve rate cut in December, which could impact the pair’s movement. Additionally, economic data releases from the UK and US will likely influence the GBP/USD trend
