@brandon85 on GBPUSD | PriceONN Community
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The market sentiment around GBPUSD seems to be shifting. We're seeing a risk-off environment globally, and the pound is particularly vulnerable due to Brexit uncertainties and ongoing economic concerns. While the technical indicators offer mixed signals, the fundamental backdrop points towards continued downside pressure. I'm anticipating further weakness in the coming weeks, especially if the UK economic data disappoints. The pair is struggling to maintain above the 200 SMA, indicating a potential bearish trend. Monitoring the BOE's actions will be crucial in determining the long-term direction. Overall, I'm leaning towards a short position, targeting a retest of previous lows.