GBPUSD is Charging Itself to 8-month Lows
The U.S. Dollar is rising. The Greenback has added more than 2% during the last two weeks. It is looking promising in term of recovering its 6% losses during last two month. The Pound is likely the one to suffer from this recovery as the Cable is keeping its gains higher without any fundamental reasons compared to other rivals. The Pound is also known for its outperforming the market. The critical level for the GBPUSD is at 1.24000. If the Cable will dive below this level and retest it, I will open a short trade with a target at 1.19000-1.20000 to renew the 8-month lows. The stop-loss order could be placed at 1.26000.
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