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- GBP/USD Price Analysis: Bears take over but bulls could be lurking with 1.1950 eyed
GBP/USD Price Analysis: Bears take over but bulls could be lurking with 1.1950 eyed
- GBP/USD bears have moved in as the greenback strengthens.
- Bulls could be lurking near a 50% mean reversion.
GBP/USD has started to give back the gains made in the New York open which ran up to break 1.1900 in a strong impulsive move to take on Tokyo's highs but fell just shy of Friday's low.
This leaves 1.1950 vulnerable for the day's ahead if bulls were to commit and emerge again from within any pullback over the coming sessions.
GBP/USD H1 chart
In the hourly chart above, the price is moving in to mitigate the price imbalance below, grey area, and a 50% mean reversion might occur to meet prior high volumes of transactions as per the volume profile of the bullish rally. If this acts as support, then there will be prospects of a bullish continuation for a run on liquidity towards 1.1920/50.
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