GBP/USD in resistance level, possibility of a sell trade
GBP/USD went up quite strongly over the last few days but yesterday, the bulls
took a breather. The rally stopped at a familiar resistance level and based on the
current price action, there is probability of a further drop.
The short-term support at 1.4105 needs to break for the downtrend to accelerate.
If this weakness continues, selling GBP/USD@1.4122-1.4150 with SL above 1.4240
and TP at 1.3950 is potential sell signal.
took a breather. The rally stopped at a familiar resistance level and based on the
current price action, there is probability of a further drop.
The short-term support at 1.4105 needs to break for the downtrend to accelerate.
If this weakness continues, selling GBP/USD@1.4122-1.4150 with SL above 1.4240
and TP at 1.3950 is potential sell signal.
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.
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.