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Home Technical Analysis

Panic Move Sets Up Rebound Trade

Forex Tips by Forex Tips
September 26, 2022
in Technical Analysis
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Panic Move Sets Up Rebound Trade
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GBP/USD went into a free-fall from Friday into the early part of Sunday trade, but has since erased the losses to start the week. The move flushed out the 1985 low, posting a new all-time low for cable. The thinking is that we could see a move back lower towards the Sunday low, but result in a retest/higher-low scenario that leads to the panic move getting erased up to the 11200s at some point.

See the video for the full set of details.

Recommended by Paul Robinson

How to Trade GBP/USD

GBP/USD 4-hr Chart

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GBP/USD Charts by TradingView

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—Written by Paul Robinson, Market Analyst

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