Attached is the chart for GBPUSD. Yesterday, i had said that GU would drop and it did drop for abt 80 pips from that point when i posted it. But the huge recovery with high volume after the fall has made me rethink on whether GU is bearish.
Looking at the way that GU was bought at the lows yesterday,i believe that GU would recover back to 1.6160 atleast and from there, we need to see whether it is going to fall or whether it is going go still further up.
The levels in the chart have held up well so far. For today, i expect GU to push towards 1.6150 albeit a bit slowly as there will be lot of selling above 1.6100. Trade safe and be nimble.
