GBPUSD has tested 1.5688 six times already.
The 2 week momentum is flat and today's price action is heading to a high zone of resistance and became oversold.
I expect a retracement to at least 1.565 if the trend continues, then I will throw on a trailing stop and let it ride until it tests the top again.
The 2 week momentum is flat and today's price action is heading to a high zone of resistance and became oversold.
I expect a retracement to at least 1.565 if the trend continues, then I will throw on a trailing stop and let it ride until it tests the top again.
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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.