- GBP/USD bears have moved as the dollar strengthens.
- The bulls could be on the verge of a 50% reversal.
The GBP/USD has started to give back gains made in the American open, which rallied to break 1.1900 in a strong impulsive move to grab session highs, but fell just below Friday’s low.
This leaves 1.1950 vulnerable tomorrow if the bulls commit and re-emerge from any setbacks in the coming sessions.
GBP/USD H1 Chart
On the hourly chart above, price is moving to mitigate the price imbalance below, gray zone, and a 50% mean reversal could occur to meet previous high trading volumes depending on the volume profile of the bullish rally . If this acts as support then there is prospect of a continuation to the upside for a run to 1.1920/50.
Source: Fx Street
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