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Thread: Will GBPUSD bounce back soon?

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    Default Will GBPUSD bounce back soon?

    Monthly chart.


    Will it bounce off the support after a huge dive in the past 6 months?

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    Default

    Strong down trend.

    Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term downtrend Downtrend with tight money management stops.

    Based on a pre-defined weighted trend formula for chart analysis, GBPUSD scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

    Sources: INO.com

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