Forex GBP/USD Daily Video, October 11, 2023

[Sive Morten]

Good morning,

GBP daily B&B "Sell" is ready, but because of bullish background, we call to wait for clear bearish reversal patterns on intraday charts before position taking.

 

[Brett Reynolds]

I anticipate midweek Pullback'..today, tomorrow.? On £GBP the £1,2230 area could be nice to look for 'Buy' and targets this week/next week could be £1.2460 area..which is 38.2 of whole move down from July.!? If market does not hold above £1.2230 area this week then the deal is Off for me.!? . Similar story on Euro with 'possible pullback towards $1.0560 to look for Buy'.!?

 

[Sive Morten]

I anticipate midweek Pullback'..today, tomorrow.? On £GBP the £1,2230 area could be nice to look for 'Buy' and targets this week/next week could be £1.2460 area..which is 38.2 of whole move down from July.!? If market does not hold above £1.2230 area this week then the deal is Off for me.!? . Similar story on Euro with 'possible pullback towards $1.0560 to look for Buy'.!?

Yep, mate. It could be. At least black candle on weekly 10-year yields looks nasty, so it easily could be continued. So, on EUR upside bounce also could be compounded.