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Back Technical analysis
GBP/USD – Smart Money Analysis: Target Reached
The GBP/USD pair has lost its
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The GBP/USD pair has lost its bullish momentum, and at present the chart pattern looks as though the pound will continue to decline. The price reacted to Bearish Imbalance 27, which allowed traders to open sell positions and created new, less favorable prospects for the pound. This week, the Fed tightened monetary policy, while the Bank of England once again took a neutral stance, leaving the door open for a rate hike. However, the open door did not satisfy traders.
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