GbpUsd near a very important point
At the beginning of the month, GBP/USD made several unsuccessful attempts to reclaim the 1.30 level.
Following these attempts, the pair saw a strong decline and is now trading below 1.27.
However, GBP/USD is approaching a crucial point on the chart, and a potential reversal may be imminent.
As shown in the posted chart, this zone is shaped by three key factors: the ascending trendline from a previously broken triangle, a descending trendline indicating a retest, and two important horizontal support levels.
Additionally, with the DXY possibly nearing a correction, this could present buying opportunities in “cable.”
My target for a potential reversal is the 1.2850 area.
Following these attempts, the pair saw a strong decline and is now trading below 1.27.
However, GBP/USD is approaching a crucial point on the chart, and a potential reversal may be imminent.
As shown in the posted chart, this zone is shaped by three key factors: the ascending trendline from a previously broken triangle, a descending trendline indicating a retest, and two important horizontal support levels.
Additionally, with the DXY possibly nearing a correction, this could present buying opportunities in “cable.”
My target for a potential reversal is the 1.2850 area.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.