How to trade GBP/USD?
Last week GBP/USD has failed to stay above the 200-week MA (1.3065) for the second time. The pair has made a series of lower highs and is currently testing levels below the key psychological level of 1.30. The next important level on the downside is support at 1.2950 (the line connecting November and December lows). On the D1, the Awesome Oscillator topped and reached the 0 line. The fall below 1.2950 will open the way down to 1.2900. The key support will be located at 1.28 (the line connecting 2019 lows). On the upside, the return above 1.13020 is needed to allow a recovery to 1.3060.
SELL 1.2945; TP 1.2900; SL 1.2955
BUY 1.3020; TP 1.3060; SL 1.3005