GBP/USD weekly overview

GBP/USD weekly overview

Currency rate bounced up from key level 1.3200. Take a look on the H4 chart there we can see that price bounced several times from that key level 1.3208.
On next week there can be a pullback up to key sell level 1.3460.

If will move down and nearly 1.3208 will be my price action signal I will open buy.
S/L: 1.3140
T/P: 1.3450

But you need to remember Long-term trend still bearish. Safe deal with the predictable risk you can open near keys levels only.

Also, if the price will move to 1.3460 there will be a key place. From which price can break up that level and D1 close under it. That will be a signal for changing Middle - term trend on Bullish. But if near that level will be Fake breake, that will be a signal for continue of bearish moving.

Daily chart: