GBPUSD Watching for a Resistance Retest
The GBPUSD is currently in a bearish trend. I've marked the high, low, and midpoint of the year as key support and resistance levels.
As observed, the price has dropped below the midpoint for the year, and I believe it will likely retest this level as resistance. If the price shows a deviation similar to the highlighted pattern, I’ll consider entering a short position.
As observed, the price has dropped below the midpoint for the year, and I believe it will likely retest this level as resistance. If the price shows a deviation similar to the highlighted pattern, I’ll consider entering a short position.
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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.