GBP/USD Forex Signal: Volatility Escalates, Bears in Control

Bearish view

  • Sell the GBP/USD pair and set a take-profit at 1.1650.
  • Add a stop-loss at 1.1800.
  • Timeline: 1-2 days.

Bullish view

  • Set a buy-stop at 1.1800 and a take-profit at 1.1900.
  • Add a stop-loss at 1.1700.

The GBP/USD price retreated after a series of worrying news about the UK economy and as volatility jumped. The pair dropped to a low of 1.1742, which was the lowest level since March 23rd this year. It has dropped by over 17% from the highest point this year.

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