GBPUSD charts and setups: On way to 1.2

GBPUSD breaks the barrier at 1.27 and then 1.26 all in one quick session move. We had warned about the fall in GBPUSD in our post to the clients last week. We believe there is more coming and do not think there is any chance of a brexit deal.

Daily Charts

The daily charts show the prices are now oversold. minor bounces will be good chance to sell GBPUSD.

4HR charts: No support

Weekly: Well established downtrend.

The weekly charts show a clear downtrend. No bounces showing total bear control.

Point and Figure: Further confirmation of a breakdown

The triangle breakdown happened on 15 November and since then it has been a clear downtrend> As can be observed the price objective for the present breakdown is 119. Prices currently at 121.2

Our trade copier has been doing brilliantly. It has been short and long GBPUSD various point. The performance has been simply brilliant. The fxcot system has made over 100% return every single year since 2010. It takes only EURUSD, GBPUSD and USDJPY.

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