Bears take control and hold it down!
In the next day or so we expect a minor pullback which is just mean reversion. Judging by how badly the GBP/USD went down it would only be right to think that the trend will persist. So then the new goals would logically be 1.32, right after some push back and then down to 1.31, or even 1.30. Psychologically, the 1.30 hasn't been touched in months and that is where some of the stongest buyers stepped in.
Right now we believe that we are in the "air pocket" which would lead to a much greater plunge. News is important here and should be weighed carefully, but it seems the jury is out and the decision has been made to continue driving it down until it probes into a price point with much greater value than what everyone perceives it to be at the moment.
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