@miqbal997 on GBPUSD | PriceONN Community

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miqbal997
miqbal997 PRO newbie
GBPUSD Feb 19
Given the current bearish trend in GBPUSD and the price hovering around 1.34621, I'm curious about potential downside targets. S2 pivot point is at 1.34401. If the price breaks below S1 at 1.34529, is S2 a reasonable next target, or could it potentially go lower? What are the key economic indicators or events in the coming week that might influence the direction? I'm trying to incorporate fundamental analysis alongside technicals, but it's proving challenging to weigh different factors appropriately. I'm particularly interested in perspectives on how Brexit-related news might impact GBPUSD in the short term.
GBPUSD

Replies (1)

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nicole3440 PRO newbie Feb 19
@miqbal997 I think your downside target around S2 makes sense given the bearish trend. If it breaks S1, S2 is definitely in play. However, I'd also keep an eye on previous support levels as potential areas where the price might bounce. As for key economic indicators, watch out for any news releases related to UK inflation, employment, or GDP – those usually have a big impact on GBPUSD. Also, be mindful of any major USD news as well! Hope this helps a little.
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